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Author: | Grauwe, P. De Polan, M. |
Title: | Is inflation always and everywhere a monetary phenomenon? |
Journal: | Scandinavian Journal of Economics
2005 : VOL. 107:2, p. 239-259 |
Index terms: | Inflation Money Quantity |
Language: | eng |
Abstract: | A sample of about 160 countries over the last 30 years is used to test for the quantity theory relationship between money and inflation. When analysing the full sample of countries, a strong positive relation is found between long-run inflation and the money growth rate. The relation is not proportional, however. |
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