Abstract : 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
https://hal-unilim.archives-ouvertes.fr/hal-00785395
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Soumis le : lundi 11 février 2013 - 11:42:21 Dernière modification le : mardi 19 janvier 2021 - 11:08:29 Archivage à long terme le : : samedi 1 avril 2017 - 16:49:21
Assad L. Baunto, Christian Bordes, Samuel Maveyraud-Tricoire, Philippe Rous. Money growth and velocity with structural breaks: Evidence from the Philippines. Philippine Management Review, 2011, 18, pp.71-81. ⟨hal-00785395⟩