Money, Income and Inflation in Equilibrium – The Case of Greece
The specification of the linear long-run relationship among money, income and the opportunity cost of holding money has been a popular study in economic literature. In the specific case of Greece, numerous articles investigated this relationship using quarterly data, mainly of the period after 1960. The objective of this article is to investigate the same long-run relationship using annual data and covering the historical period between 1858 and 1938. The results of the used cointegration analysis are presented along with the findings of other authors who covered the post war era of the Greek Economy. Copyright International Atlantic Economic Society 2008
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Volume (Year): 14 (2008)
Issue (Month): 2 (May)
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