期刊名称：International Journal of Development and Sustainability
印刷版ISSN：2186-8662
出版年度：2013
卷号：2
期号：4
页码：2414-2428
出版社：International Society for Development and Sustainability (ISDS)
摘要：This study modelled and examined the dy namic relationship among fiscal deficits, money supply, and inflation using annual data from 1980 to 2010.A static error correction model (ECM) and the Stock-Watson dynamic OLS (DOLS) model based on leads and lags of the variableswere us ed. This technique is robust to small sample and eliminates simultaneity bias. The model was used to investigate the elasticities for both short run and long run determinants of the general price level. Results indicate that both money supply and deficit have significant impact on inflation dynamics in Ghana. The key result of the study showed that the lagged values of money supply play a key role and provides evidence that the response of inflation dynamics to money supply relies on current and cumulative effects of past doses of money supply.
关键词：Ghana; Dynamic ordinary Least squares; Fiscal deficits; Money supply; Inflation
