Money growth and velocity with structural breaks: Evidence from the Philippines

Assad L. Baunto, Christian Bordes (), Samuel Maveyraud and Philippe Rous
Additional contact information
Assad L. Baunto: School of economics - UP System - University of the Philippines
Christian Bordes: CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique
Philippe Rous: LAPE - Laboratoire d'Analyse et de Prospective Economique - GIO - Gouvernance des Institutions et des Organisations - UNILIM - Université de Limoges

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Abstract: This paper aims to test the Friedmanite proposal on the link between the velocity of money demand and money growth. We base our work on the Philippines as its monetary policy has been subject to sharp swings since the 1980s. We use a method that takes into account possible structural breaks in the velocity of money demand and a GARCH model to evaluate the variability of money growth. We apply Granger causality tests to confirm the Friedmanite hypothesis

Date: 2011
Note: View the original document on HAL open archive server: https://unilim.hal.science/hal-00785395
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Citations: View citations in EconPapers (4)

Published in Philippine Management Review, 2011, 18, pp.71-81

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Working Paper: Money growth and velocity with structural breaks: Evidence from the Philippines (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00785395

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