Using a VAR approach, this paper studies the relationship between money, output, and prices in a group of Pacific Basin countries that underwent financial sector reform during the 1980s: Indonesia, Korea, and the Philippines. Special attention is paid to assessing the information content of...

Using a VAR approach, this paper studies the relationship between money, output and prices in a group of Pacific Basin countries that underwent financial sector reform during the 1980s: Indonesia, Korea and the Philippines. Special attention is paid to assessing the information content of money....