In this paper we re-evaluate the empirical evidence on money-inflation Granger causality for the euro area and, in contrast to Trecroci and Vega (2000), conclude that money does in fact Granger cause inflation. We also show that it takes about a year and a half for changes in money growth to start passing on to inflation and five years for the whole adjustment to take place.

it is stipulated in our islamic jurisprudence and law that when a person is killed and he or she has several legal guardians, if some of the guardians pardon, the remaining guardians have the right to retaliate in qiṣāṣ provided that they pay the share of the blood money to those demanding blood money. it is pronounced in the article 264 of islamic penal code that: “if there are several legal g...

Furthermore, by using [2, p. 230, (1)] a computable representation for the G-function in (1) (and hence also for F,112(s)) may be given in terms of essentially a linear combination of four hypergeometric functions OF3[b2s2 /16] provided that no two of the parameters {1, 1 1+v-P1v-P) differ by an integer. This result for Fv-112(s) is given (correctly) in [3, p. 353, (9)] so that the proposed int...

There have been two broad theories of inflation, namely the demand-pull theory of inflation (that is nowadays mainly the monetary theory of inflation) and the cost-push theory of inflation. The mainstream macroeconomics views inflation as a monetary phenomenon in the long run. Iran has experienced double-digit rates of inflation for about four decades. Our main aim is an explanation for the lon...

Money as a tool has all the dimensions of life. The meaning of money has been expanded so that its social dimensions can be used alone to analyze the economic situation and market of a society. In this study, we examine the semantic dimensions and meaning that students have of money. The research method is phenomenological research. Deep interviews were conducted of 21 sample students from Ferd...

We develop a theory of money and credit as competing payment instruments, then put it to work in applications. Buyers can use cash or credit, with the former (latter) subject to the inflation tax (transaction costs). Frictions making the choice of payment method interesting also imply equilibrium price dispersion, and together these deliver closed-form solutions for money demand. The model can ...