The use of Divisia monetary aggregate has been proposed in the economic literature to take into account the different degrees of liquidity of the interest-bearing financial assets included in defining ‘money’. Despite the theoretical implication of the Divisia approach as an appropriate...

The P-Star approach of modeling inflation has been widely tested for the United States and other developed countries. However, the robustness of the P-Star model for developing countries has received less attention among the researchers. The purpose of this study is to test the applicability of...

The objective of this paper is to investigate the long-run relationship between monetary aggregates and income in the era of financial innovations and deregulation in ten Asian developing economies using the cointegration approach. The results of this study suggest that money matters for...

Given the inter-country linkages arising from technological advances in communication and transportation, this paper examines the interdependent relationships between the output of the world’s largest economy, the US, and those of five other ASEAN countries, namely, Indonesia, Malaysia,...