Causality between Income and Government Expenditure: A Broad International Perspective
This paper develops and estimates a small new-classical model of the Greek economy using annual data from 1954 to 1980. The model is "monetarist" as the demand for output is derived from the demand for money function. In this model output is affected only by actual and anticipated monetary growth, whereas the price level is influenced by both actual and unanticipated changes in money supply, using single equation and simultaneous equation techniques.
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Volume (Year): 41 (1986)
Issue (Month): 3 ()
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