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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
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: |
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| 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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