The relationship of liquid money and selected price indices in the USA
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216275%3A25410%2F21%3A39917231" target="_blank" >RIV/00216275:25410/21:39917231 - isvavai.cz</a>
Result on the web
<a href="https://www.inderscienceonline.com/doi/pdf/10.1504/IJMEF.2021.113305" target="_blank" >https://www.inderscienceonline.com/doi/pdf/10.1504/IJMEF.2021.113305</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1504/IJMEF.2021.113305" target="_blank" >10.1504/IJMEF.2021.113305</a>
Alternative languages
Result language
angličtina
Original language name
The relationship of liquid money and selected price indices in the USA
Original language description
The aim of this paper is to assess the relationship between the development of liquid money and selected price indices in the US economy in 1961-2018. The Engle-Granger cointegration test and Granger causality are used to calculate the relationships. Cointegration was not demonstrated in any of the cases. Therefore, this study's contribution lies in confirming the conclusions of mostly newer studies concerning the invalidity of the quantitative theory of money under current conditions. However, short-term Granger-causal relationships were demonstrated in almost all cases. Thus, we can predict consumer prices and the prices for bonds and real estate based on the development of the amount of liquid money. It is also possible to predict the development of the amount of liquid money based on how all these price indicators develop. So central banks can still to some extent affect significant prices in the economy by influencing the money supply.
Czech name
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Czech description
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Classification
Type
J<sub>SC</sub> - Article in a specialist periodical, which is included in the SCOPUS database
CEP classification
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OECD FORD branch
50202 - Applied Economics, Econometrics
Result continuities
Project
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Continuities
S - Specificky vyzkum na vysokych skolach
Others
Publication year
2021
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
International Journal of Monetary Economics and Finance
ISSN
1752-0479
e-ISSN
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Volume of the periodical
14
Issue of the periodical within the volume
1
Country of publishing house
GB - UNITED KINGDOM
Number of pages
22
Pages from-to
69-90
UT code for WoS article
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EID of the result in the Scopus database
2-s2.0-85101804395