Money and prices: some evidence from India

Basanta Pradhan and A. Subramanian

Applied Economics, 1998, vol. 30, issue 6, 821-827

Abstract: The objective of this paper is to examine the long-run relationship between supply of money and prices. The prices considered are wholesale price and consumer price indices for industrial workers, urban non-manual workers and agricultural labourers. Using the null hypothesis of cointegration, it is shown that the supply of money and consumer price indices for urban non-manual workers and agricultural labourers are cointegrated in the long-run. Both the prices - namely, urban non-manual workers and agricultural labourers - form a stable relationship with money supply in the long-run.

Date: 1998
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DOI: 10.1080/000368498325525

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