Money supply, GDP and inflation: The dynamic econometric analysis of macro-equilibrium

Mellár, Tamás and Rappai, Gábor (2001) Money supply, GDP and inflation: The dynamic econometric analysis of macro-equilibrium. Hungarian Statistical Review, 79 (SN6). pp. 3-23. ISSN 0039-0690

Preview

Text 2001_K6_003.pdf Download (389kB) | Preview

Abstract

The paper investigates some theoretical problems of the Hungarian economy. The fundamental question is, whether the Hungarian economy meets the requirements of a modern, developed market economy at the end of the transition period. In order to answer the underlying question the authors present several macroeconometric results, based on quarterly analysis of macroeconomic time series concerning the interrelations of GDP, money supply, velocity and inflation. No unanimous answer to the basic question is given, nontheless interesting findings for the relevance of some theoretical macromodels, the equilibrium–disequlibrium situation of the economy and the causal relations of some macrovariables are revealed.

Actions (login required)

Edit Item