Money and inflation : lessons from the US for ECB monetary policy

Polleit, Thorsten; Belke, Ansgar

Money and inflation : lessons from the US for ECB monetary policy

dc.contributor.author	Polleit, Thorsten	de
dc.contributor.author	Belke, Ansgar	de
dc.date.accessioned	2024-04-08T08:39:53Z
dc.date.available	2024-04-08T08:39:53Z
dc.date.created	2008-02-18
dc.date.issued	2007
dc.description.abstract	We turn our attention to the role of money for determining nominal magnitudes. Using US data, we find that the aggregate ?nominal output plus and stock market capitalisation? is closely related to the money stock, lending support to one of Milton Friedman?s key monetarist propositions. This finding should be particularly important for ECB monetary policy: an inflation-free euro plays a crucial role for European economic and political integration. We conclude that monetary policy must keep a very close eye on money supply if it wants to prevent consumer and asset price inflation.	en
dc.identifier.swb	282496998
dc.identifier.uri	https://hohpublica.uni-hohenheim.de/handle/123456789/5133
dc.identifier.urn	urn:nbn:de:bsz:100-opus-2359
dc.language.iso	eng
dc.relation.ispartofseries	Hohenheimer Diskussionsbeiträge; 284
dc.rights.license	publ-ohne-pod	en
dc.rights.license	publ-ohne-pod	de
dc.rights.uri	http://opus.uni-hohenheim.de/doku/lic_ubh.php
dc.subject	Money	en
dc.subject	Asset price inflation	en
dc.subject	Monetary policy	en
dc.subject.ddc	330
dc.subject.gnd	Geld	de
dc.subject.gnd	Geldpolitik	de
dc.subject.gnd	Inflation	de
dc.title	Money and inflation : lessons from the US for ECB monetary policy	de
dc.type.dcmi	Text	de
dc.type.dini	WorkingPaper	de
local.access	uneingeschränkter Zugriff	en
local.access	uneingeschränkter Zugriff	de
local.bibliographicCitation.publisherPlace	Universität Hohenheim	de
local.export.bibtex	@techreport{Polleit2007, url = {https://hohpublica.uni-hohenheim.de/handle/123456789/5133}, author = {Polleit, Thorsten and Belke, Ansgar}, title = {Money and inflation : lessons from the US for ECB monetary policy}, year = {2007}, school = {Universität Hohenheim}, series = {Hohenheimer Diskussionsbeiträge}, }
local.export.bibtexAuthor	Polleit, Thorsten and Belke, Ansgar
local.export.bibtexKey	Polleit2007
local.export.bibtexType	@techreport
local.faculty.number	3	de
local.institute.number	520alt	de
local.opus.number	235
local.series.issueNumber	284
local.series.title	Hohenheimer Diskussionsbeiträge
local.university	Universität Hohenheim	de
local.university.faculty	Fakultät Wirtschafts- und Sozialwissenschaften	de
local.university.institute	Institut für Volkswirtschaftslehre (bis 2010)	de

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