Does Money Growth Granger-Cause Inflation in the Euro Area? Evidence from Out-of-Sample Forecasts Using Bayesian VARs

We use a mean-adjusted Bayesian VAR model as an out-of-sample forecasting tool to test whether money growth Granger-causes inflation in the euro area. Based on data from 1970 to 2006 and forecasting horizons of up to 12 quarters, there is surprisingly strong evidence that including money improves fo...

Ausführliche Beschreibung

Bibliographische Detailangaben

Hauptverfasser:	Pär Österholm, Helge Berger
Format:	Buch
Sprache:	eng
Schlagworte:	Bayesian Var Econometric models Economic forecasting Europe European Central Bank Granger Causality Inflation (Finance) Monetary Aggregates Money Out-of-sample Forecasting
Online-Zugang:	Volltext
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