Federal Reserve Bank of Cleveland
Опубликовано на портале: 04-12-2002Terry J. Fitzgerald Federal Reserve Bank of Cleveland. 1999.
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?