Examining the relationship between money uncertainty and inflation in Taiwan
學年 91
學期 2
出版(發表)日期 2003-05-01
作品名稱 Examining the relationship between money uncertainty and inflation in Taiwan
作品名稱(其他語言)
著者 歐陽良裕; Ouyang, Liang-yuh; 倪衍森; Ni, Yen-sen; Wu, M. H.
單位 淡江大學經營決策學系
出版者 Analytic Publishing Co
著錄名稱、卷期、頁數 Journal of information & optimization sciences 24(2), pp.239-248
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.
關鍵字 Money;money volatility;inflation
語言 en
ISSN 0252-2667
期刊性質 國內
收錄於
產學合作
通訊作者
審稿制度
國別 TWN
公開徵稿
出版型式 ,電子版
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