Article ID Journal Published Year Pages File Type
9549380 Economics Letters 2005 7 Pages PDF
Abstract
We find that domestic currency, currency corrected for foreign holdings, has a substantial share in forecast error variance decomposition of US inflation. We also find that domestic currency has higher share of the forecast error variance decomposition of US real output than any other narrow monetary aggregate we consider.
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Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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US domestic currency in forecast error variance decompositions of inflation and output
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