Does Money Matter for U.S. Inflation? Evidence from Bayesian VARs

Does Money Matter for U.S. Inflation? Evidence from Bayesian VARs
We use Bayesian estimation techniques to investigate whether money growth Granger-causes inflation in the United States. We test for Granger-causality out-of-sample and find, perhaps surprisingly given recent theoretical arguments, that including money growth in simple VAR models of inflation does systematically improve out-of-sample forecasting... READ MORE...

Publication date: March 2008
ISBN 9781451869385
$18.00

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