Reconciling the consensus view that raising short rates fights inflation with the quantity-theoretic evidence that inflation and interest rates move together with money growth in the long run, this …
PublishedClassicFederal Reserve Bank of Minneapolis Quarterly ReviewPublished Jun 1995
This 1995 Federal Reserve Bank of Minneapolis Quarterly Review paper by George T. McCandless Jr. and Warren E. Weber documents three long-run monetary facts across 110 countries: money growth tracks …