Detail Inside Money, Output, and Causality   Oleh:  Freeman, Scott ; Huffman, Gregory W. Jenis: Article from Bulletin/Magazine Dalam koleksi: INTERNATIONAL ECONOMIC REVIEW vol. 32 no. 3 (1991), page 645-668. Topik: MONEY; money; output; causality Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: II49.1 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel We present an explicit general equilibrium model consistent with these observations : i) innovations in the nominal money stock are positively correlated with and precede ("Granger - cause") innovation in output ; ii) these innovations in the nominal money stock represent innovations in inside, not outside, money; and iii) when interest rates are included in vector autoregressions, their innovations, not money's, are seen to precede output. Changes in the money stock represent an endogenous reaction to some third factor and do not cause subsequent changes in output. Therefore, a change in the current fiat money stock will not lead to any change in output. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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