Publications and Research
Research
Working papers
1996
Index of Working Papers | Index of Technical Reports| Title | A Modified P*-Model of Inflation Based on M1 |
| Author(s) | Joseph Atta-Mensah |
| Type | Working Paper 96-15 |
| Date of publication |
November 1996 |
| Language | English |
| Abstract |
This paper examines the performance of M1 in an indicator-model of inflation over time horizons as long as 16 quarters into the future. The central conclusion of the paper is that, in addition to the output gap, the cumulative growth of M1 and the deviations of M1 from its long-run path provide "distant-early-warning" information about the future path of inflation. |
| Bank topic index |
Economic models |
| JEL classification |
E37 |
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