http://chineseinput.net/에서 pinyin(병음)방식으로 중국어를 변환할 수 있습니다.
변환된 중국어를 복사하여 사용하시면 됩니다.
Asymmetric Effects of Money Supply Shocks on Prices : International Evidence
Lai, Pikki,Cover, James Peery 아태경제학회 1996 JOURNAL OF ECONOMIC RESEARCH Vol.1 No.2
The study examines if there are asymmetric responses of the price level to positive and negative unanticipated changes in the money supply using data from twenty industrialized countries. It is found that positive money-supply shocks cause the price level to increase in 8 of the 20 countries, while negative money-supply shocks cause the price level to decline in only two countries. The results are consistent with predictions from a model presented by Tsiddon (1991) which predicts that negative money-supply shocks cause prices to increase rather than decrease. It also is found that average money growth and its volatility do not affect whether prices respond asymmetrically to money-supply shocks.