Money-inflation link shows signs of breaking down - Bundesbank paper
Money supply and inflation have comoved less strongly since 1990s
There have been signs of a weakening in the relationship between growth in the money supply and inflation in recent years, research published by the Deutsche Bundesbank has found.
The discussion paper, Money growth and consumer price inflation in the euro area: a wavelet analysis, by Martin Mandler and Michael Scharnagl, bases its results on 'wavelet analysis', which allows the researchers to examine changes in the relationship between the two variables across different frequencies and times.
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