Inflation: Too much money or too much credit?

Kent Matthews, Chris Ioannidis

Research output: Journal PublicationArticlepeer-review


This paper presents a vector autoregression type model of inflation, output growth, money and credit. We find that monetary shocks affect the mean of inflation but that credit shocks influence the time variance of inflation.

Original languageEnglish
Pages (from-to)411-426
Number of pages16
JournalManchester School
Issue number4
Publication statusPublished - 1997
Externally publishedYes

ASJC Scopus subject areas

  • Economics and Econometrics


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