00000caa a22000003i 4500 UP-1685594773862388442 Buklod 20210312172500.0 m | | ta 210312s1994 xx r |||| u|eng d (iLib)UPBAG-00039458444 BAG rda eng ARTICLE-2642 Gochoco, Maria Socorro H. author. Testing for structural change a cointegration approach by Maria Socorro Gochoco. 1994. pages 1-14 25 cm text rdacontent unmediated rdamedia volume rdacarrier Includes bibliographical references (page 14). This study investigates whether exogenous shocks and/or economic reform programs such as the financial liberalization program of the early 80s resulted in changes in the dynamic equilibrium relationships among money, output, prices and in some cases, interest rates. Cointegrating vectors for these variables were estimated over a full-sample period using quarterly data from 1981.1 to 1992.4 as well as a sub-sample period from 1986.1-1992.4. Various hypotheses regarding the neutrality of money on prices or output, the proportionality of the effect of money on prices or output, and the stationarity of velocity were tested using restrictions on the cointegrating vectors. If a regime change did occur after the exogenous shocks and/or the implementation of the financial liberalization program, the subperiod results would differ from the full-sample results. The results obtain show that when M1 is issued, the results obtained for the post-shocks period are quite different from those for the entire sample period. Only the hypothesis regarding the absence of any effect from money to prices is rejected using a sub-period sample, whereas all the different hypotheses are rejected for the full-sample period regardless of the type of the monetary aggregate used or whether the interest rate is included or not. Philippines Economic conditions 19th century. Cointegration. The Philippine Review of Business and Economics Vol. XXXI, No. 1 (June 1994), p. 1-14. (viewed 12 March 2021) FI UPBAG UPBAG-MAIN ARTICLE-2642 Analytics