This paper with title "The Accommodation Hypothesis in Greece. A tri-variate Granger-Causality
Approach" investigates empirically the causal relationship between money growth, budget deficits and
inflation in Greece employing a tri-variate error-correction model. The causal relationship between
money, deficits and inflation is explored using three alternative definitions for money: high-powered, M l
and M2 definitions of money stock. The results support the accommodation hypothesis and provide
evidence that deficits are inflationary when monetized.
(EN)
Δαπάνη του προυπολογισμού
(EL)
Οικονομική ανάπτυξη
(EL)
Economic growth
(EN)
Budgetary expenditure
(EN)
Σπουδαί - Journal of Economics and Business
English
University of Piraeus
(EN)
1105-8919
2241-424X
SPOUDAI - Journal of Economics and Business; Vol 43, No 1 (1993); 3-18
(EN)
Copyright (c) 1993 SPOUDAI - Journal of Economics and Business
(EN)
University of Peiraeus
