The Effects of Money Growth on Inflation and Interest Rates across Spectral Frequency Bands
Band spectral regression techniques are used to identify the frequency bands that are most important in the relationships between money growth and inflation, and between money growth and the nominal interest rate. The results show that cycles in the growth rate of M1 from one to two years long produce higher frequency cycles in inflation and two distinct sets of higher frequency cycles in changes in the nominal interest rate. The results support models where predictable changes in money growth produce liquidity and anticipated inflation effects on nominal interest rates. Copyright 1994 by Ohio State University Press.
Volume (Year): 26 (1994)
Issue (Month): 2 (May)
|Contact details of provider:|| Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-2879 |
When requesting a correction, please mention this item's handle: RePEc:mcb:jmoncb:v:26:y:1994:i:2:p:218-31. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing)or (Christopher F. Baum)
If references are entirely missing, you can add them using this form.