June 1, 2014 Thesis Open Access

GASHAW DESALEGN

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  <identifier identifierType="DOI">10.20372/nadre:3031</identifier>
  <creators>
    <creator>
      <creatorName>GASHAW DESALEGN</creatorName>
    </creator>
  </creators>
  <titles>
    <title>CAN THE MONTARY AUTORITY CONTROLE THE STOCK OF MONEY SUPPLY IN ETHIOPIA: AN EMPERICAL INVESTIGATION</title>
  </titles>
  <publisher>Zenodo</publisher>
  <publicationYear>2014</publicationYear>
  <dates>
    <date dateType="Issued">2014-06-01</date>
  </dates>
  <resourceType resourceTypeGeneral="Text">Thesis</resourceType>
  <alternateIdentifiers>
    <alternateIdentifier alternateIdentifierType="url">https://nadre.ethernet.edu.et/record/3031</alternateIdentifier>
  </alternateIdentifiers>
  <relatedIdentifiers>
    <relatedIdentifier relatedIdentifierType="DOI" relationType="IsVersionOf">10.20372/nadre:3030</relatedIdentifier>
    <relatedIdentifier relatedIdentifierType="URL" relationType="IsPartOf">https://nadre.ethernet.edu.et/communities/aau</relatedIdentifier>
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  </relatedIdentifiers>
  <rightsList>
    <rights rightsURI="http://www.opendefinition.org/licenses/cc-by">Creative Commons Attribution</rights>
    <rights rightsURI="info:eu-repo/semantics/openAccess">Open Access</rights>
  </rightsList>
  <descriptions>
    <description descriptionType="Abstract">&lt;p&gt;The aim of this paper is to investigate empirically the ability of Nation Bank of Ethiopia to&lt;br&gt;
control the stock of money supply. This investigation seems to conform to the ongoing&lt;br&gt;
controversy surrounding the exogeneity /endogeneity hypothesis regarding the money supply i.e.&lt;br&gt;
the controllability/non-controllability of the money supply by the Central Bank. The paper has first&lt;br&gt;
tested the money multiplier model which says money is exogenous and thus controllable by central&lt;br&gt;
banks. We examine the constancy and Stationarity of the money multiplier and the results&lt;br&gt;
suggest that the money multiplier remains non stationary for the entire sample period. We then&lt;br&gt;
tested cointegration between money supply and monetary base and find the evidence of&lt;br&gt;
cointegration between two variables. The coefficient restrictions are satisfied only partially. The&lt;br&gt;
result from this model shows it will be difficult to use the money multiplier model as a frame&lt;br&gt;
work for monetary policy&lt;/p&gt;</description>
  </descriptions>
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