A considerable number of empirical studies exploring the links between budget deficits and the demand for money have led to mixed results. By using annual data of the Greek economy and previous empirical studies, this paper empirically evaluates the sensitivity and validity of the Keynesian...

The Export-Led Growth Hypothesis (ELGH) is an interesting subject of research in the field of applied economics. This paper investigates the causal links between exports and output growth in the empirical framework of the Greek economy, using error-correction modelling and multivariate Granger...

Using a developing economy framework and within the empirical context of the SVAR (Structural Vector Autoregression) methodology, the paper examines the interaction between money, output and interest rates and sheds light on some fundamental propositions of the business cycle. The empirical...

Additional empirical research on the links between budget deficits and interest rates Is highly relevant for the ongoing discussion about the validity of the Keynesian Proposition and the Ricardian equivalence. This study using data from a small open Economy investigates the empirical framework...

This paper explores the relationship between budget and trade deficits in a small open economy using annual data. The purpose of the paper is to test empirically the validity and rationale of the Keynesian proposition (conventional view) and the Ricardian equivalence hypothesis. The econometric...