Are money, interest rates, output and the exchange rate cointegrated? implications for monetary targeting
This study examines the relationship between various monetary aggregates and real income, the 91-day treasury bill rate, and the nominal exchange rate using the Engle and Granger cointegration method. The ide is that the choice for a monetary target should be controllable by the Central Bank and mus...
| Published in: | The Philippine Review of Business and Economics Vol. XXX, No. 1 (June 1993), p. 91-101. |
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| Main Author: | |
| Format: | Analytics |
| Language: | English |
| Published: |
1993.
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| Subjects: |