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Money and Prices in the Philippines, 1981-1992: A Cointegration Analysis

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Author Info
Reyes, Celia M
Yap, Josef T.
Abstract

Based largely on the work of Funke and Hall, estimation results indicate non-causality between money and price level attributed to the interplay of factors such as unstable political and economic environment. P* vector has no significance on potential output since Q instead of Q* has been used.

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File URL: http://dirp4.pids.gov.ph/ris/pjd/pidsjpd93-1money.pdf
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Publisher Info
Article provided by Philippine Institute for Development Studies in its journal Philippine Journal of Development (Formerly Journal of Philippine Development).

Volume (Year): XX (1993)
Issue (Month): 1 ()
Pages: 57-78
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:phd:pjdevt:jpd_1993_vol._xx_no._1-c

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Related research
Keywords: monetary aggregates; causality; price level;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Hoover, Kevin D., 1991. "The causal direction between money and prices : An alternative approach," Journal of Monetary Economics, Elsevier, vol. 27(3), pages 381-423, June. [Downloadable!] (restricted)
    Other versions:
  2. Johansen, Soren, 1991. "Estimation and Hypothesis Testing of Cointegration Vectors in Gaussian Vector Autoregressive Models," Econometrica, Econometric Society, vol. 59(6), pages 1551-80, November. [Downloadable!] (restricted)
  3. Hallman, Jeffrey J & Porter, Richard D & Small, David H, 1991. "Is the Price Level Tied to the M2 Monetary Aggregate in the Long Run?," American Economic Review, American Economic Association, vol. 81(4), pages 841-58, September. [Downloadable!] (restricted)
  4. Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, vol. 12(2-3), pages 231-254. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Assad L. Baunto & Christian Bordes & Samuel Maveyraud-Tricoire & Philippe Rous, 2007. "Money and uncertainty in the Philippines: A Friedmanite Perspective," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00308663_v1, HAL. [Downloadable!]
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