Publication:
Temporal causality and dynamic interactions among macroeconomic activity within a multivariate cointegrated system: evidence from Singapore and Korea
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Date
1995
SDG:
Abstract
The main purpose of this paper is to discern the dynamic causal relationship (in the Granger (temporal) sense) among real output, money, interest rate, inflation and exchange rate in the context of two small open economies, such as Singapore and Korea. The Granger-causal chain implied by the authors' evidence that real output more often the authors' predominantly leads (rather than lags) money supply followed by other three endogenous variables, is consistent more with the recent Real Business Cycle theory than with the other two major macroeconomic paradigms such as the Keynesian and the Monetarist.
Keywords
Dynamic causal relationship , Macroeconomic activity , Singapore , Korea
Citation
Mohammed Masih, Abul Mansur and Masih, Rumi. (1995). Temporal causality and dynamic interactions among macroeconomic activity within a multivariate cointegrated system: evidence from Singapore and Korea. Review of World Economics = Weltwirtschaftliches Archiv, 131 (2), pp. 265-285.
Publisher
Springer Berlin Heidelberg