Testing long-run monetarists propositions in some industrialized countries
By: Bhanumurthy, N.R.
Material type:
ArticlePublisher: 2000Description: p.14-25.Subject(s): Monetary policy
In:
Artha VijnanaSummary: The present study attempts to test the main monetarists' propositions, which are rather `always and everywhere controversial'. The study considers three monetarists' propositions, which deals with: the relation between money growth and inflation; money growth and output growth; and output growth and inflation. It considers ten industrialized countries for this purpose. Based on thirty-one years of annual data over the period 1963 to 1993 and using simple correlation coefficients and the Vector Autoregression (VAR) models, the study found that `universality of monetarists propositions' proposed by the Chicago school, is rejected as not all the countries supported it. - Reproduced
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Articles
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Indian Institute of Public Administration | Volume no: 42, Issue no: 1 | Available | AR48220 |
The present study attempts to test the main monetarists' propositions, which are rather `always and everywhere controversial'. The study considers three monetarists' propositions, which deals with: the relation between money growth and inflation; money growth and output growth; and output growth and inflation. It considers ten industrialized countries for this purpose. Based on thirty-one years of annual data over the period 1963 to 1993 and using simple correlation coefficients and the Vector Autoregression (VAR) models, the study found that `universality of monetarists propositions' proposed by the Chicago school, is rejected as not all the countries supported it. - Reproduced
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