Is inflation always and everywhere a monetary phenomenon?

被引：85

作者：

De Grauwe, P ^{[1
]}

Polan, M ^{[1
]}

机构：

[1] Catholic Univ Louvain, B-3000 Louvain, Belgium

来源：

SCANDINAVIAN JOURNAL OF ECONOMICS | 2005年 / 107卷 / 02期

关键词：

inflation; money; quantity theory of money;

D O I：

10.1111/j.1467-9442.2005.00406.x

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Using a sample of about 160 countries over the last 30 years, we test for the quantity theory relationship between money and inflation. When analysing the full sample of countries, we find a strong positive relation between long-run inflation and the money growth rate. The relation is not proportional, however. The strong link between inflation and money growth is almost wholly due to the presence of high-(or hyper-) inflation countries in the sample. The relationship between inflation and money growth for low-inflation countries (on average less than 10% per annum over the last 30 years) is weak.

引用

页码：239 / 259

页数：21