|
|
|
|
Title: |
Inflation Uncertainty and Money Demand: Evidence from a Monetary Regime
Change and the Case of Greece |
| Author: |
Apergis,
Nicholas |
| Author
Affiliation: |
U Macedonia |
| Source: |
International Economic Journal, Summer 1999, v. 13, no. 2, pp. 21-30 |
|
Publication Date: |
Summer 1999 |
|
Abstract: |
This paper has extended a money demand
equation to include uncertainty of inflation as a specific argument. The
empirical analysis shows that in Greece inflation uncertainty is
described well by an ARCH process. A money demand equation that
explicitly takes into consideration the inflation uncertainty process
seems to be capable of capturing any money demand structural
instabilities. These instabilities, in turn, are shown to have been
caused by the monetary deregulation process occurred in 1988. |
|
