Empirical Analysis of the Relation to Output, Money Supply and Inflation

The Empirical Analysis of Monetary Policy on Balance of Payments Adjustments in Nigeria: A Bound Testing Approach

This study investigates the impact of monetary policy on balance of payments (BOP) adjustment in Nigeria within the periods, 1980-2015. The study used the bound testing approach to show the relationship that exists among monetary policy variables (money supply, domestic credit, inflation and exchange rate), output growth, and trade balance and BOP adjustment in Nigeria. The study shows that the...

The Empirical Relationship between Fiscal Deficits and Inflation (Case Study: Selected Asian Economies)

Abstract T he relationship between public sector deficits and inflation is one of the important and controversial issues in the academic literature as well as in economic policy field. On the other hand, a major objective of macroeconomic policies is to foster economic growth and to keep inflation on a low level. So keeping the price stability plays an important role in de...

Inflation and Money supply growth in Iran: Empirical Evidences from Cointegration and Causality

The Welfare Effects of Switching from Consumption Taxation to Inflation Taxation in Iran’s Economy

The net effects of switching from consumption taxation to inflation taxation on resource allocation and welfare crucially depend on production externalities. With elastic labor supply, raising inflation taxation decreases leisure, but increases the levels of real consumption, capital, and output. Moreover, this tax switch has two opposing effects on the level of real money balances: A positive ...

Inflation Determinants in Low and High Frequencies: An Implication of Spectral Analysis to Iran

There is no evidence that previous studies, available to Iran’s inflation literature, have used spectral methodology to analyze a possible relationship between inflation and its main determinants within a specific period. Accordingly, the present study investigates the effects of money growth, real output growth, output gap and interest rate changes on inflation at low and high frequencies...

A note on Romer’s openness-inflation relation: the responsiveness of AS and AD to economic openness and monetary policy

Temple (2002) empirically challenges Romer’s (1993) negative opennessinflation relation on empirical grounds. This article links economic openness to the slopes of aggregate supply (AS) and aggregate demand (AD) to explain why the openness-inflation relation can be ambiguous. Starting with a widely used assumption initiated by Romer (1993) that more open economies face greater output inflation ...