Examining the relationship between money uncertainty and inflation in Taiwan

淡江大學機構典藏 > 商管學院 > 管理科學學系暨研究所 > 期刊論文 > Item 987654321/19737

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題名:	Examining the relationship between money uncertainty and inflation in Taiwan
作者:	歐陽良裕;Ouyang, Liang-yuh;倪衍森;Ni, Yen-sen;Wu, M. H.
貢獻者:	淡江大學經營決策學系
關鍵詞:	Money;money volatility;inflation
日期:	2003-05-01
上傳時間:	2009-11-30 12:20:16 (UTC+8)
出版者:	Analytic Publishing Co
摘要:	The paper uses monthly data of money and consumer price index from January 1988 to December 1998 for Taiwan. We use GARCH(1, 1) models to generate our measure of money volatility and then test the short-run dynamic relationship between money volatility and inflation, instead of money and inflation. From our empirical results, we may reasonable conclude money volatility has significant, and positive effect on inflation. Furthermore, from the extensive study of impulse response functions, the results reveal that inflation reacts immediately and dramatically for monetary volatility shocks, which are also different from monetary shocks on inflation. It reveals that stable monetary policy will be better for economy, since uncertainty of money will cause inflation and fluctuation of economy.
關聯:	Journal of information & optimization sciences 24(2), pp.239-248
DOI:	10.1080/02522667.2003.10699564
顯示於類別:	[管理科學學系暨研究所] 期刊論文

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