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- ISIDORE Id: 10670/1.261217...
- hal: hal-00308663
info:eu-repo/semantics/OpenAccess
Mots-clés
Friedman GARCH T‐GARCH Bai‐and‐Perron technique band pass filter JEL classification: E31, E32, E41, E51Sujets proches
Papers Specie Monetary question Money, Primitive Currency Standard of valueCiter ce document
Assad L. Baunto et al., « Money and uncertainty in the Philippines: A Friedmanite Perspective », HAL SHS (Sciences de l’Homme et de la Société), ID : 10670/1.261217...
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This paper aims to provide a unified theoretical framework of the two hypotheses proposed by Friedman: (i). increased variability of money supply results in the decline of income velocity of money and (ii) high inflation leads high variability of inflation which reduces potential output growth. This paper also provides empirical investigation to validate Friedman's hypotheses using Philippine data. The Philippine economy experienced persistently higher and more variable inflation rate and weaker macroeconomic performance relative to other Asian countries, and these characteristics provide ample opportunity to evaluate Friedman's proposals at work. Utilizing original methodologies (e.g. band‐pass filter), our findings validate both proposals.
