[ Kevin D. Hoover (2001), Causality in macroeconomics (Cambridge University Press), pp. 250-282.
Kevin D. Hoover (1991), “The causal direction between money and prices: An alternative approach”, Journal of Monetary Economics 27, 381-423. ]
10.1 Does Money Cause Prices? The Current Debate
10.2 Stable and Unstable Periods
10.3 Baseline Regressions
10.4 Digression: Reaction Function or Causal Relation?
10.5 Out-of-sample projections
10.5.1 Backward Projections: 1953.4-1950.1
10.5.2 Forward Projections: 1966.3-1985.4
10.5.3 Patterns of Stability
10.6 Does Currency Cause Prices?
10.7 Summary and Conclusions
APPENDIX. Data: Sources and Definitions
10.1 Does Money Cause Prices? The Current Debate
10.2 Stable and Unstable Periods
10.3 Baseline Regressions
10.4 Digression: Reaction Function or Causal Relation?
10.5 Out-of-sample projections
10.5.1 Backward Projections: 1953.4-1950.1
10.5.2 Forward Projections: 1966.3-1985.4
10.5.3 Patterns of Stability
10.6 Does Currency Cause Prices?
10.7 Summary and Conclusions
APPENDIX. Data: Sources and Definitions
(2021.12.12.)
