Money growth and velocity with structural breaks : evidence from the Philippines / Assad L. Baunto, Christian Bordes, Samuel Maveyraud, Philippe Rous
Series: Philippine Management Review. 18, page 71-81 Publication details: 2011Content type:- text
- unmediated
- volume
Current library | Call number | Status | Date due | Barcode |
---|---|---|---|---|
Manila Tytana Colleges Library REFERENCE SECTION | Bound (Browse shelf(Opens below)) | Not For Loan |
This paper aims to test the Friedmanite proposal on the link between the velocity of money demand and money growth. We base our work on the Philippines as its monetary policy has been subject to sharp swings since the 1980s. We use a method that takes into account possible structural breaks in the velocity of money demand and a GARCH model to evaluate the variability of money growth. We apply Granger causality tests to confirm the Friedmanite hypothesis.
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