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Title: |
Money, Income and Causality: Korea and Japan |
| Author: |
Kang, Myung Hun |
| Author
Affiliation: |
Dankook U |
| Source: |
International Economic Journal, Autumn 1987, v. 1, no. 3, pp. 57-70 |
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Publication Date: |
Autumn 1987 |
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Abstract: |
Clearly understanding the true causal
relationships among macroeconomic variables is essential for model
specification and the selection of policy variables. The purpose of this
comparative study is to analyze the causal relationships among
macroeconomic variables--more specifically, between money and income in
Korea and Japan. Empirical findings of two countries show the causal
relationships between money and income which are different from each
other and inconsistent with Mundell's suggestions. However, these
inconsistencies might be explained theoretically through the different
economic structures and situations of each country. |
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