Budget Deficits and Money: Further Evidence from Greece

George A. Vamvoukas
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George A. Vamvoukas: Athens University of Economics and Business

Rivista di Politica Economica, 2001, vol. 91, issue 7, 27-50

Abstract: This paper explores the interaction between budget deficits and the demand for money. Within the framework of the variance decompositions and combined impulse response functions, the paper evaluates the validity of the Keynesian proposition and the Ricardian equivalence hypothesis. The results indicate that budget deficits in Greece are a statistically significant determinant of changes in money demand, suggesting the acceptability of the Keynesian proposition.

JEL-codes: E41 E42 (search for similar items in EconPapers)
Date: 2001
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Persistent link: https://EconPapers.repec.org/RePEc:rpo:ripoec:v:91:y:2001:i:7:p:27-50

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