Causality Between Money and Price Level in India Revisited

Sharma Ram Lal

IIMA Working Papers from Indian Institute of Management Ahmedabad, Research and Publication Department

Abstract: In this study we have used Granger’s test of causality as interpreted by Sims and found out that causality is semi directional from money to price level. This conclusion is independent of the type of definition of money used and is valid whether we choose time period characterized by fixed exchange rate regime or flexible exchange rte regime.

Date: 1987-06-01
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Persistent link: https://EconPapers.repec.org/RePEc:iim:iimawp:wp00764

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