The Demand for Money in Greece: Further Empirical Results and Policy Implications
AbstractThis paper investigates the determinants and the stability of the demand for money in Greece for both narrow and broad definitions of money. The demand for M2 has not been previously studied. The findings of the empirical work suggest that the demand for M1 is unstable. For M2 the results presented are not sufficiently unambiguous to provide a basis for a policy prescription in favor of the adoption of a monetary target. In terms of anti-inflation policy efficiency, it is argued that a potentially better policy choice for Greece would be to join the exchange rate mechanism of the European Monetary System. Copyright 1997 by Blackwell Publishers Ltd and The Victoria University of Manchester
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Bibliographic InfoArticle provided by University of Manchester in its journal The Manchester School of Economic & Social Studies.
Volume (Year): 65 (1997)
Issue (Month): 1 (January)
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- Athanasios Papadopoulos & George Zis, . "The Demand For Money In Greece: Further Empirical Results And Policy Implications," Working Papers 9405, University of Crete, Department of Economics.
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- Kumar, Saten & Chowdhury, Mamta & Rao, B. Bhaskara, 2010.
"Demand for Money in the Selected OECD Countries: A Time Series Panel Data Approach and Structural Breaks,"
22204, University Library of Munich, Germany.
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- Kumar, Saten & Webber, Don J., 2010. "Australasian money demand stability: Application of structural break tests," MPRA Paper 27569, University Library of Munich, Germany.
- Sophocles N. Brissimis & George Hondroyiannis & P. A. V. B. Swamy & George S. Tavlas, 2003.
"Empirical Modelling of Money Demand in Periods of Structural Change: The Case of Greece,"
Oxford Bulletin of Economics and Statistics,
Department of Economics, University of Oxford, vol. 65(5), pages 605-628, December.
- Sophocles N. Brissimis & George Hondroyiannis & P.A.V.B. Swamy & George S. Tavlas, 2003. "Empirical Modelling of Money Demand in Periods of Structural Change: The Case of Greece," Working Papers 01, Bank of Greece.
- Mansor H. Ibrahim, 2006. "Stock prices and bank loan dynamics in a developing country: The case of Malaysia," Journal of Applied Economics, Universidad del CEMA, vol. 0, pages 71-89, May.
- Papadopoulos, Athanasios P. & Papanikos, Gregory T., 2002.
"Exchange rate regimes and the linkage between money and output in Greece,"
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- Athanasios Papadopoulos & Gregory Papanikos, . "Exchange Rates Regimes And The Linkage Between Money And Output In Greece," Working Papers 9605, University of Crete, Department of Economics.
- Yannis Panagopoulos & Aristotelis Spiliotis, 2006. "Testing Money Supply Endogeneity: The Case of Greece (1975-1998)," European Research Studies Journal, European Research Studies Journal, vol. 0(1-2), pages 85-102.
- Mohsen Bahmani-oskooee & Charikleia Economidou, 2005. "How stable is the demand for money in Greece?," International Economic Journal, Taylor & Francis Journals, vol. 19(3), pages 461-472.
- Christos Karpetis, 2008. "Money, Income and Inflation in Equilibrium – The Case of Greece," International Advances in Economic Research, Springer, vol. 14(2), pages 205-214, May.
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