Cointegration Test and Effect Analysis of Money Supply and Employment
Under the quantity theory of money, money supply will lead to inflationary pressures, while the short-term Phillips curve shows that the replacement exists between inflation rate and unemployment, thus money supply is related to employment. This paper analyzed empirically the relation between money supply and employment of the three industries ,using Cointegration test and the random variable parameter Hildreth- Houck model, the results show that there is no cointegration between Chinas money supply and employment, which is caused by factors other than the impact of money supply.
Unit root test Cointegration Phillips curve Hildreth-Houck Model
LI Dongsheng LI Jing
School of Economics, Yangtze University, Jingzhou, Hubei, China, 434025
国际会议
烟台
英文
273-276
2011-08-06（万方平台首次上网日期，不代表论文的发表时间）