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The choice of appropriate monetary aggregates in the United Kingdom

Hasan, Mohammad S (1998) The choice of appropriate monetary aggregates in the United Kingdom. Applied Economics Letters, 5 (9). pp. 563-568. ISSN 1350-4851. (doi:10.1080/758529500) (The full text of this publication is not currently available from this repository. You may be able to access a copy if URLs are provided) (KAR id:23610)

The full text of this publication is not currently available from this repository. You may be able to access a copy if URLs are provided.
Official URL
http://dx.doi.org/10.1080/758529500

Abstract

This paper re-examines the relationship between alternative monetary aggregates (MO and M4) and other macroeconomic variables in the United Kingdom. The results of a five-variable VAR analysis are indicative of bidirectional causality between each of the monetary aggregates and real output. Our findings of a feedback relationship between MO-real income, and M4-real income makes each of the monetary aggregates a poor intermediate target variable. Moreover, contrary to most research work in this area, we find a feedback relationship between MO and prices which appears to support the monetary accomodation hypothesis.

Item Type: Article
DOI/Identification number: 10.1080/758529500
Subjects: H Social Sciences
Divisions: Divisions > Kent Business School - Division > Department of Accounting and Finance
Depositing User: Mohammad Hasan
Date Deposited: 27 Jan 2010 12:11 UTC
Last Modified: 16 Nov 2021 10:02 UTC
Resource URI: https://kar.kent.ac.uk/id/eprint/23610 (The current URI for this page, for reference purposes)
Hasan, Mohammad S: https://orcid.org/0000-0002-2453-6868
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