Money supply and inflation dynamics in the Asia-Pacific economies : a time-frequency approach
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1558-3708
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Studies in nonlinear dynamics & econometrics, 2017, Vol. 21, No. 3, OnlineOnly
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BEKIROS, Stelios D., MUZAFFAR, Ahmed Taneem, UDDIN, Gazi Salah, VIDAL-GARCIA, Javier, Money supply and inflation dynamics in the Asia-Pacific economies : a time-frequency approach, Studies in nonlinear dynamics & econometrics, 2017, Vol. 21, No. 3, OnlineOnly - https://hdl.handle.net/1814/49789
Abstract
We examine the relationship between money supply growth and inflation in 3 Asian Economies which are India, Malaysia and Japan using a time-frequency approach. The application of a unified multi-scale analysis allows us to provide a continuous assessment of the link between money supply growth and inflation, unlike most of the existing literature studying this relationship. We also employ a bivariate frequency-domain causality test to determine the nature and direction of interdependence between money supply growth and inflation dynamics. Our findings provide a better understanding of their lead-lag linkages and causal relationship in the selected countries of the Asia-Pacific region.
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First published online: 5 April 2017