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Monetary Inflation Mechanism. An Empirical View

Author

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  • Liviu C. Andrei

    (National University of Political and Administration Sciences Bucharest, Faculty of Public Administration)

  • Dalina Andrei

    (Economic Forecasting Institute, Romanian Academy)

Abstract

We prefer to reconsider once again our larger paper published earlier, as we did it already for at least three of its revealed correlations: between nominal GDP and both monetary reserves and money supply (Andrei & Andrei 2014a, b) and between money multiplier and velocity (Andrei 2014), this time for something within our database (i.e. the Federal Reserves of Saint Lois State/FRED) that regards the inflation rate from nearby. Following our basic paper reference’s basics, inflation might be proper to both representative and fiat monies, but more deeply to the latter, although both monies again keep either the money supply and reserves as components. On the other hand, the same inflation is a so reach topic for theorists of all groups of thinking, e.g. there are some that identify it out of just money origins. This paper below tries to explain a monetary inflation mechanism in normal (out of crisis) environment.

Suggested Citation

  • Liviu C. Andrei & Dalina Andrei, 2017. "Monetary Inflation Mechanism. An Empirical View," Working papers Globalization - Economic, Social and Moral Implications, April 2017 1, Research Association for Interdisciplinary Studies.
    • Handle: RePEc:smo:wpaper:1
    DOI: 10.5281/zenodo.581463
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    More about this item

    Keywords

    inflation (rate); (required & excess) monetary reserves; Fed; cointegration; fiat money; money supply;
    All these keywords.

    JEL classification:

    • B1 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925
    • C5 - Mathematical and Quantitative Methods - - Econometric Modeling
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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