... recently formulated by Alvarez, Lu-cas, and Weber (2001). It uses the cash-in-advance struc-ture used by Lucas and Stokey (1987) first and by manystudies since and a segmented market structure ... relationship be-tween money growth and inflationhavefoundmuchweak-er correlations in short-run data than in long-run data.Our first shorter time period for the cross-country cor-relations of ... two situations, see Alvarez, Lucas, and Weber 2001.ReferencesAlvarez, Fernando; Atkeson, Andrew; and Kehoe, Patrick J. Forthcoming. Money, in-terest rates, and exchange rates with endogenously...