Document Type

Article

Journal/Book Title/Conference

Economic Research Institute Study paper

Publisher

Utah State University

Publication Date

12-1-1987

First Page

1

Last Page

21

Abstract

When the issue of the effect of monetary changes on an economy is addresses it is essential to initially establish the direction of casual flow in economic relationships. In particular, it is important to establish whether changes in the money stock causally affect other economic variables, such as nominal output and/or prices or whether no such relationships can empirically be found to exist. Essentially the all important theoretical question is which variables, if any, do monetary changes affect.


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