|
| << previous | next >> |
Journal description
All volumes of the corresponding journal
All issues of the corresponding volume
All articles of the corresponding issues
Details for article 4 of 7 found articles
| Title: |
Financial liberalization and the stationarity of money multiplier |
| Author: |
Downes, Darrin Moore, Winston Jackson, Dwayne |
| Appeared in: |
International economic journal |
| Paging: | Volume 20 (2006) nr. 2 pages 227-240 |
| Year: |
2006-06-01 |
| Contents: |
In countries without an explicit inflation targeting mechanism, a stable relationship between the monetary base and the money supply allows policymakers to implement changes in monetary policy with a reasonable degree of certainty about the impact on the money supply. The relationship can, however, be influenced by major structural shifts such as financial sector reforms. The present study finds that when structural change bought about by financial liberalisation is ignored, the unit root hypothesis is spuriously accepted. However, once this break is incorporated into the analysis, the multiplier exhibits no presence of a stochastic trend. |
| Publisher: |
Routledge |
| Source file: |
Elektronische Wetenschappelijke Tijdschriften |
Details for article 4 of 7 found articles
| << previous | next >> |