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Title: |
Money and Inflation:
International Evidence Based on Cointegration Theory |
| Author: |
Shirvani,
Hassan; Wilbratte, Barry |
| Author
Affiliation: |
U St Thomas |
| Source: |
International Economic Journal, Spring 1994, v. 8, no. 1, pp. 11-21 |
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Publication Date: |
Spring 1994 |
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Abstract: |
This study investigates the relationship
between money and inflation using cointegration tests. For a broad
sample of countries, the paper finds that most time series data
underlying a typical monetarist model are nonstationary, indicating that
it is necessary to appropriately transform the data in order to render
the confidence tests reliable. Our principle finding is that money and
inflation are related only in countries with high inflation. |
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