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On Granger causality and the monetary approach to the balance of payments

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Taylor, Mark P. (1987) On Granger causality and the monetary approach to the balance of payments. Journal of Macroeconomics, 9 (2). pp. 239-253. doi:10.1016/0164-0704(87)90043-7

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Official URL: http://dx.doi.org/10.1016/0164-0704(87)90043-7

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Abstract

It is shown that the presence of Granger causality from the reserves variable to the domestic credit variable is neither a necessary nor a sufficient condition for the presence of simultaneous equations bias in the standard reserve-flow equation of the monetary approach to the balance of payments. It is suggested that Hausman-type tests may be more suitable in this context. The argument is illustrated by means of an applied example using United Kingdom data.

Item Type: Journal Article
Divisions: Faculty of Social Sciences > Warwick Business School
Journal or Publication Title: Journal of Macroeconomics
Publisher: Elsevier
ISSN: 0164-0704
Official Date: 1987
Dates:
DateEvent
1987Published
Volume: 9
Number: 2
Page Range: pp. 239-253
DOI: 10.1016/0164-0704(87)90043-7
Status: Peer Reviewed
Publication Status: Published
Access rights to Published version: Restricted or Subscription Access

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