Money growth and inflation: how long is the long run?

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Money growth and inflation: how long is the long run?

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Terry J. Fitzgerald

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Terry J Fitzgerald

Abstract

In their efforts to maintain low inflation, policymakers pay little attention to the growth rate of the money supply. Yet many studies have found that money growth and inflation a closely related, at least in the long run. But how long must money growth remain strong before it begins to concern policymakers? That is, what is the shortest period over which money growth seems to be reliably associated with inflation?

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Publisher Info
Article provided by Federal Reserve Bank of Cleveland in its journal Economic Commentary.

Volume (Year): (1999)
Issue (Month): Aug 1 ()
Pages:
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Handle: RePEc:fip:fedcec:y:1999:i:aug1

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Assenmacher-Wesche, Katrin & Gerlach, Stefan, 2006. "Money at Low Frequencies," CEPR Discussion Papers 5868, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
Other versions:
- Katrin Assenmacher-Wesche & Stefan Gerlach, 2007. "Money at Low Frequencies," Journal of the European Economic Association, MIT Press, vol. 5(2-3), pages 534-542, 04-05. [Downloadable!] (restricted)
Albert Marcet & Juan Pablo Nicolini, 2005. "Money and Prices in Models of Bounded Rationality in High Inflation Economies," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 8(2), pages 452-479, April. [Downloadable!] (restricted)
Other versions:
- Albert Marcet & Juan Pablo Nicolini, 2005. "Money and Prices in Models of Bounded Rationality in High Inflation Economies," Economics Working Papers 875, Department of Economics and Business, Universitat Pompeu Fabra. [Downloadable!]
- Albert Marcet & Juan Pablo Nicolini, 2005. "Money and prices in models of bounded rationality in high inflation economies," Working Paper Series 469, European Central Bank. [Downloadable!]
De Grauwe, Paul & Polan, Magdalena, 2001. "Is Inflation Always and Everywhere a Monetary Phenomenon?," CEPR Discussion Papers 2841, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)

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This page was last updated on 2009-10-20.

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