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application/pdfThe Monetarist versus the Neo-Keynesian Views on the Accelerationof Inflation: Some Evidence from South Asian CountriesThis paper tests the monetarist versus the neo-Keynesian viewson the accelera� tion of inflation, using annual data for Bangladesh,India, Nepal, Pakistan, and Sri Lanka (mostly) for the period 1961-88,within the framework of the theoretical model of Stein (I978, 1982). Theempirical results consistently support the monetarist view that changesin real money balances contribute to an acceleration of inflation.Another important finding is that except for Bangladesh, contrary to theneo-Keynesian view, bond� financed government expenditure does not havean independent significant effect on the acceleration ofinflation.
Acrobat 5.0 Scan Plug-in for Windows; modified using iTextSharp 4.1.6 by 1T3XTSpring 1990,Vol. 29, No.1
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