Testing the quantity theory of money in Greece

Date

2003-12-15

Author

Ozmen, E

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This paper investigates whether the Greek data actually support the monetarist hypotheses as argued by Karfakis. The results based on both ARDL and Johansen procedures consistently suggest that money and nominal income (prices) are endogenous for the parameters of the long-run evolution of velocity (real money balances). Thus, the basic postulation of monetarism, the exogeneity of money, appears not to be supported by the Greek data.

Subject Keywords

Economics and Econometrics

URI

https://hdl.handle.net/11511/64018

Journal

APPLIED ECONOMICS LETTERS

DOI

https://doi.org/10.1080/1350485032000164044

Collections

Department of Labour Economics and Industrial Relations, Article

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Citation Formats

E. Ozmen, “Testing the quantity theory of money in Greece,” APPLIED ECONOMICS LETTERS, pp. 971–974, 2003, Accessed: 00, 2020. [Online]. Available: https://hdl.handle.net/11511/64018.