TY  - GEN
T1  - Monetary policy and economic activity in a low-income country an empirical investigation
JF  - The Philippine Review of Business and Economics
A1  - Canlas, Dante B.
LA  - English
YR  - 1986
UL  - https://tuklas.up.edu.ph/Record/UP-1685594773862388198
AB  - The paper is an empirical investigation of the output effects of some aspects of monetary policy in a low-income setting. It is argued that the existing political institutions render the physical authority dominant over the monetary authority. Using some parsimonious representations of output growth, there is evidence supporting the proposition that unanticipated monetary policy matters. Holding private credit constant, currency in circulation has negative output effects. The condone trip evidence is rationalized by invoking choice-theoretic based models of monetary economies that deliver propositions consistent with the evidence.
CN  - ARTICLE-2440
KW  - Monetary policy.
KW  - Recessions : Effect of monetary policy on.
ER  -