Please use this identifier to cite or link to this item: https://www.um.edu.mt/library/oar/handle/123456789/31415
Title: Testing money supply endogeneity : the case of Greece (1975-1998)
Authors: Panagopoulos, Yannis
Spiliotis, Aristotelis
Keywords: Money supply -- Greece -- 20th century
Cointegration -- Greece
Monetary policy
Issue Date: 2006
Publisher: University of Piraeus. International Strategic Management Association
Citation: Panagopoulos, Y., & Spiliotis, A. (2006). Testing money supply endogeneity : the case of Greece (1975-1998). European Research Studies Journal, 9(1-2), 85-102.
Abstract: The main purpose of this paper is to trace whether, for a prolonged period of time (1975-1998), money supply in Greece was endogenously or exogenously determined. In the theoretical part, we briefly report the Orthodox vis-a-vis the post Keynesian views on the issue. From the statistical evidence we conclude that : a) the deregulation process of the late 80’s did not produce any structural break in the Greek monetary aggregates and b) under specific assumptions, money in Greece can be considered as endogenously determined. This implies that in the Greek monetary system the central bank behaves as a lender of last resort.
URI: https://www.um.edu.mt/library/oar//handle/123456789/31415
ISSN: 11082976
Appears in Collections:European Research Studies Journal, Volume 9, Issue 1-2

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