High powered money


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High powered money

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7) In other words, we investigate whether the observed changes in the behavior of industrial production, the wholesale price index, and/or high powered money caused a change in the behavior of interest rates.
In contrast, this paper has examined macroeconomic changes in the context of a vector auto-regressive system that includes a key short-term interest rate, high powered money, industrial production, stock prices and the wholesale price index.

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