A general definition of causality is introduced and then specialized to become operational.
By considering simple examples a number of advantages, and also difficulties, with the …

This paper re-examines changes in the causal link between money and income in the
United States over the past half century (1959–2014). Three methods for the data-driven …

This is a completely revised edition of the well-known monetary textbook. The book
discusses the latest analytical developments in monetary economic theory in a …

Generally the causal structure of a subprocess of a multivariate stochastic process does not
allow conclusions concerning the causal structure of the higher dimensional process. It is …

This paper deploys the Granger method to determine the directions and patterns of causality
between national income and total as well as various components of public expenditure …

A time series {Y t}'causes' another time series {Y t}, in the sense defined by CWJ Granger, if
present Y can be predicted better by using past values of X than by not doing so, other …

Prediction problems involving asymmetric loss functions arise routinely in many fields, yet
the theory of optimal prediction under asymmetric loss is not well developed. We study the …

Here is a clear and thoughtful introduction to the current literature of monetary economics
and macroeconomics. The book's central theme is a view of the macroeconomy in which …

T HE investigation of causal relationships be-tween economic variables is the bread and
butter of econometric analysis. It is therefore not surprising that Granger's (1969) contribution …

THE RELATIONSHIP BETWEEN the money supply and stock prices discovered by Sprinkel
[30] seems to assign an important role to the money supply in determining common stock …