Money Supply Endogeneity: Evidence from the Dynamic Panel Data
In the discussion on monetary economics in general and the supply of money in an economy in particular, one cannot avoid mentioning one major concept, i.e. the money supply endogeneity. Money supply is said to be endogenous or endogenously determined if money creation occurs within the monetary s...
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my.uum.repo.246842018-08-26T05:33:15Z http://repo.uum.edu.my/24684/ Money Supply Endogeneity: Evidence from the Dynamic Panel Data Nayan, Sabri Kadir, Norsiah Yusof, Ab. Aziz Mohammad Ali, Azilah In the discussion on monetary economics in general and the supply of money in an economy in particular, one cannot avoid mentioning one major concept, i.e. the money supply endogeneity. Money supply is said to be endogenous or endogenously determined if money creation occurs within the monetary system of an economy - rather than being determined by external forces. The theory of endogenous money represents the foundation of post-Keynesian monetary theory. Money supply endogeneity implies that central banks do not exogenously determine the quantity of credit money in existence; it is the interest rate that they can control exogenously. The present paper examines the money supply endogeneity based on a panel data set of 174 countries from year 2001 to 2011 utilising the dynamic panel data analysis and has found that money supply is endogenous as proposed by post-Keynesian theorists. Springer 2016 Article PeerReviewed Nayan, Sabri and Kadir, Norsiah and Yusof, Ab. Aziz and Mohammad Ali, Azilah (2016) Money Supply Endogeneity: Evidence from the Dynamic Panel Data. Proceedings of the ASEAN entrepreneurship conference 2014. pp. 231-243. |
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In the discussion on monetary economics in general and the supply of
money in an economy in particular, one cannot avoid mentioning one major
concept, i.e. the money supply endogeneity. Money supply is said to be endogenous
or endogenously determined if money creation occurs within the monetary system
of an economy - rather than being determined by external forces. The theory of
endogenous money represents the foundation of post-Keynesian monetary theory.
Money supply endogeneity implies that central banks do not exogenously determine
the quantity of credit money in existence; it is the interest rate that they can
control exogenously. The present paper examines the money supply endogeneity
based on a panel data set of 174 countries from year 2001 to 2011 utilising the
dynamic panel data analysis and has found that money supply is endogenous as
proposed by post-Keynesian theorists. |
format |
Article |
author |
Nayan, Sabri Kadir, Norsiah Yusof, Ab. Aziz Mohammad Ali, Azilah |
spellingShingle |
Nayan, Sabri Kadir, Norsiah Yusof, Ab. Aziz Mohammad Ali, Azilah Money Supply Endogeneity: Evidence from the Dynamic Panel Data |
author_facet |
Nayan, Sabri Kadir, Norsiah Yusof, Ab. Aziz Mohammad Ali, Azilah |
author_sort |
Nayan, Sabri |
title |
Money Supply Endogeneity: Evidence from
the Dynamic Panel Data |
title_short |
Money Supply Endogeneity: Evidence from
the Dynamic Panel Data |
title_full |
Money Supply Endogeneity: Evidence from
the Dynamic Panel Data |
title_fullStr |
Money Supply Endogeneity: Evidence from
the Dynamic Panel Data |
title_full_unstemmed |
Money Supply Endogeneity: Evidence from
the Dynamic Panel Data |
title_sort |
money supply endogeneity: evidence from
the dynamic panel data |
publisher |
Springer |
publishDate |
2016 |
url |
http://repo.uum.edu.my/24684/ |
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1644284113785454592 |
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13.18916 |