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 InfoPaper provided by University of Crete, Department of Economics in its series Working Papers with number 9405.
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- Papadopoulos, Athanasios P & Zis, George, 1997. "The Demand for Money in Greece: Further Empirical Results and Policy Implications," The Manchester School of Economic & Social Studies, University of Manchester, vol. 65(1), pages 71-89, January.
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- Papadopoulos, Athanasios P. & Papanikos, Gregory T., 2002.
"Exchange rate regimes and the linkage between money and output in Greece,"
Journal of Policy Modeling,
Elsevier, vol. 24(2), pages 103-117, May.
- 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.
- 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.
- 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.
- Saten Kumar & Mamta B. Chowdhury & B. Bhaskara Rao, 2013. "Demand for money in the selected OECD countries: a time series panel data approach and structural breaks," Applied Economics, Taylor & Francis Journals, vol. 45(14), pages 1767-1776, May.
- Kumar, Saten & Webber, Don J., 2010.
"Australasian money demand stability: Application of structural break tests,"
27569, University Library of Munich, Germany.
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- Don J. Webber & Saten Kumar, 2011. "Australasian money demand stability:Application of structural break tests," Working Papers 1101, Department of Accounting, Economics and Finance, Bristol Business School, University of the West of England, Bristol.
- 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.
- 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.
- 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.
- 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.
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