A New Look at the Relationship of Real Balances to Income, Interest Rates, and Inflation in Greece — A Note
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A New Look at the Relationship of Real Balances to Income, Interest Rates, and Inflation in Greece — A Note
Credit and Capital Markets – Kredit und Kapital, Vol. 23 (1990), Iss. 2 : pp. 196–203
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Hercules Voridis, Athen
References
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Google Scholar -
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Google Scholar -
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Google Scholar -
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Abstract
A New Look at the Relationship of Real Balances to Income, Interest Rates, and Inflation in Greece — A Note
A positive relationship is detected, (Greece 1961 – 1985), between the volume of broad monetary aggregates and the real deposit rate. Thus, an important link can be traced in the Greek macroeconomy: Deflation and/or increases in administered interest rates augment the resources of banks, hence enable an expansion of credit constrained investment expenditures.