Post Keynesian Endogeneity of Money Supply: Panel Evidence

Sabri Nayan (), Mahyudin Ahmad, Norsiah Kadir and Mat Saad Abdullah

MPRA Paper from University Library of Munich, Germany

Abstract: Post Keynesian economics is actually macroeconomics in a world of uncertainty and endogenous money. Post Keynesians posit that money supply in a market oriented production economy is endogenous or endogenously determined (rather than exogenous as claimed by Monetarists). Money supply is said to be endogenous if it is determined within the economic system itself. The present paper investigates this theory using a panel dataset of 177 countries from year 1970-2011 utilising dynamic panel data analysis and has found that money supply is endogenous as proposed by Post Keynesian theorists.

Keywords: Post-Keynesians; Endogeneity; Panel Data Analysis; System GMM. (search for similar items in EconPapers)
JEL-codes: E12 E51 (search for similar items in EconPapers)
Date: 2013-07-30
New Economics Papers: this item is included in nep-hpe, nep-mac and nep-pke
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/48716/1/MPRA_paper_48716.pdf original version (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:48716

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().