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Money Price Relationship under the Currency Board System: The Case of Argentina

Author

Listed:
  • Selahattin Togay

    (Gazi University)

  • Nezir Kose

    (Gazi University)

Abstract

In this study, the endogenous money hypothesis is examined for the Argentinean economy employing exogeneity tests by using monthly data for the time period 1991-2001 within the frame of money and price relationship in a Currency Board-like system. Empirical results support the hypothesis which suggests that money supply is endogenous.

Suggested Citation

  • Selahattin Togay & Nezir Kose, 2009. "Money Price Relationship under the Currency Board System: The Case of Argentina," Working Papers 2009/1, Turkish Economic Association.
  • Handle: RePEc:tek:wpaper:2009/1
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    File URL: http://www.tek.org.tr/dosyalar/togay-kose.arjantin.pdf
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    More about this item

    Keywords

    Currency Board; Argentina; Money Supply Endogeneity; Exogeneity Test;

    JEL classification:

    • C12 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Hypothesis Testing: General
    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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