THE KEYNESIAN-MONETARIST CONTROVERSY IN INTERNATIONAL ECONOMICS: DISCRIMINATORY POWER OF LONG-RUN EMPIRICAL TESTS

From: Journal of Economics and Economic Education Research | Date: September 1, 2007| Author: Ardalan, Kavous | Copyright information

ABSTRACT

Two major theories in the area of balance of payments are the Keynesian and monetarist theories. There have been many long-run tests of the monetary approach to the balance of payments and the evidence has been used to support the monetary approach. This paper argues that most of the existing empirical work does not have any discriminatory power. Long-run empirical models can discriminate between a simple Keynesian cross and a monetarist approach, but they cannot discriminate ...

Read all of this article with a FREE trial to HighBeam Research

Related newspaper, magazine, and journal articles from HighBeam Research

The Keynesian-monetarist controversy in international economics: discriminatory power of long-run empirical tests.(ECONOMIC ARTICLES)
Journal of Economics and Economic Education Research ; ... been many long-run tests of the monetary ... existing empirical work does not have any discriminatory power. Long-run empirical models can ... bases for discriminatory tests. INTRODUCTION ... dominate macro-economics in general ... been many ...