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Testing Some Monetarist Propositions
Peter Rangazas and Dewan Abdullah
The Review of Economics and Statistics
Vol. 70, No. 1 (Feb., 1988), pp. 173-177
Published by: The MIT Press
Stable URL: http://www.jstor.org/stable/1928168
Page Count: 5
You can always find the topics here!Topics: Economic inflation, Unemployment, Economic growth models, Unemployment rates, Monetarism, Economic growth rate, Significance level, Keynesianism, Long run economic growth, Economic models
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This paper attempts to reconcile the conflicting findings of a particular line of research designed to test Monetarism on reduced form equations. Using the encompassing approach of Mizon, the lag lengths in inflation and unemployment equations are statistically determined and then decomposed into lags due to "systematic" and "error" dynamics. Several Monetarist propositions are tested on the systematic component of each equation. The data fail to reject the restrictions imposed by Monetarism in all cases.
The Review of Economics and Statistics © 1988 The MIT Press