Is Money Really Exogenous? Testing for Weak Exogeneity in Swiss Money Demand.

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Fischer, Andreas M;
  • Journal: Journal of Money, Credit and Banking,volume 25,issue 2 May,pages248-58

Although exogeneity is often associated with controllable policy variables, Engle, Hendry, and Richard (1983) show that the one condition is neither necessary nor sufficient for the other. Whether variables such as monetary aggregates are (weakly) exogenous depends on t... View more
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