Monetary aggregates useful as eurozone inflation predictor – paper
“Predictive content” of monetary aggregates has improved since 2012, ECB paper says
Monetary and credit aggregates may be gaining reliability as predictors of eurozone inflation, a working paper published by the European Central Bank (ECB) argues.
In Forecasting euro area inflation using targeted predictors: is money coming back?, Matteo Falagiarda and João Sousa follow what they call "a two-step empirical approach".
They initially investigate how the predictive content of monetary and credit aggregates compares with that of other potential leading indicators. Then they assess
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