The relationship of liquid money and selected price indices in the USA
Identifikátory výsledku
Kód výsledku v 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>
Výsledek na webu
<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>
Alternativní jazyky
Jazyk výsledku
angličtina
Název v původním jazyce
The relationship of liquid money and selected price indices in the USA
Popis výsledku v původním jazyce
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.
Název v anglickém jazyce
The relationship of liquid money and selected price indices in the USA
Popis výsledku anglicky
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.
Klasifikace
Druh
J<sub>SC</sub> - Článek v periodiku v databázi SCOPUS
CEP obor
—
OECD FORD obor
50202 - Applied Economics, Econometrics
Návaznosti výsledku
Projekt
—
Návaznosti
S - Specificky vyzkum na vysokych skolach
Ostatní
Rok uplatnění
2021
Kód důvěrnosti údajů
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Údaje specifické pro druh výsledku
Název periodika
International Journal of Monetary Economics and Finance
ISSN
1752-0479
e-ISSN
—
Svazek periodika
14
Číslo periodika v rámci svazku
1
Stát vydavatele periodika
GB - Spojené království Velké Británie a Severního Irska
Počet stran výsledku
22
Strana od-do
69-90
Kód UT WoS článku
—
EID výsledku v databázi Scopus
2-s2.0-85101804395