June 1, 2014 Thesis Open Access

GASHAW DESALEGN

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{
  "DOI": "10.20372/nadre:3031", 
  "author": [
    {
      "family": "GASHAW DESALEGN"
    }
  ], 
  "issued": {
    "date-parts": [
      [
        2014, 
        6, 
        1
      ]
    ]
  }, 
  "abstract": "<p>The aim of this paper is to investigate empirically the ability of Nation Bank of Ethiopia to<br>\ncontrol the stock of money supply. This investigation seems to conform to the ongoing<br>\ncontroversy surrounding the exogeneity /endogeneity hypothesis regarding the money supply i.e.<br>\nthe controllability/non-controllability of the money supply by the Central Bank. The paper has first<br>\ntested the money multiplier model which says money is exogenous and thus controllable by central<br>\nbanks. We examine the constancy and Stationarity of the money multiplier and the results<br>\nsuggest that the money multiplier remains non stationary for the entire sample period. We then<br>\ntested cointegration between money supply and monetary base and find the evidence of<br>\ncointegration between two variables. The coefficient restrictions are satisfied only partially. The<br>\nresult from this model shows it will be difficult to use the money multiplier model as a frame<br>\nwork for monetary policy</p>", 
  "title": "CAN THE MONTARY AUTORITY CONTROLE THE STOCK OF MONEY SUPPLY IN ETHIOPIA: AN EMPERICAL INVESTIGATION", 
  "type": "thesis", 
  "id": "3031"
}