Chapter 7 WORKSHOP 5 The Polak Model: An Application
Author: International Monetary Fund
Language:
English
Keywords:
BOOK; exogenous variable; income velocity of money; definitional equation; endogenous variable; regression estimate; Domestic credit; Demand for money; Personal income; Foreign assets

Abstract

Since the early 1950s, economists and policymakers have been increasingly preoccupied with the problems of inflation and balance of payments disequilibria. Their preoccupation has led to new approaches to monetary analysis.1 In this period, there has been a gradual evolution of the so-called monetary approach to the balance of payments, the third major approach; the two best-known earlier approaches are the elasticity (neoclassical) approach and the income absorption (neo-Keynesian) approach.2

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Cover Financial Policy Workshops
Financial Policy Workshops
The Case of Kenya
Author: International Monetary Fund
ISBN:
9780939934003
Publication Date:
15 Sep 1985
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9780939934003.071
Pages:
339