Can money endogeneity be generalized? Empirical evidence from Caribbean economies

International Advances in Economic Research, Volume 7, Issue 2, 2001, Pages 253-258.

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Abstract:

This study investigates the direction of causality between the money supply and reserve money for some selected Caribbean countries using recently developed techniques of causality tests. The findings suggest that neither money endogeneity nor money exogeneity can be generalized to all small, open economies. The causal patterns may diff...More

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