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Money and Income: Post Hoc Ergo Propter Hoc?

James Tobin
- 01 May 1970 - 
- Vol. 84, Iss: 2, pp 301-317
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TLDR
An ultra-Keyniesian model, 303 as discussed by the authors, and a Friedman model, 310, were used to compare timing implications, and they showed that timing implications are strongly correlated.
Abstract
An ultra-Keyniesian model, 303. — A Friedman model, 310. — Comparisons of timing implications, 314.

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The endogenous money stock

TL;DR: The authors examined the relationship between monetary growth and inflation in the United States and concluded that the high-powered monetary base, while exogenous in a control sense, is endogenous in a statistical sense, since it is closely correlated with the past rate of change in money wage rates.
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Causality tests in econometrics

TL;DR: In this paper, the basic theorem characterizing Granger causality events and existing testing methods are surveyed and an alternative direct testing method based on Akaike's final prediction error criterion is suggested.
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Capital markets and economic fluctuations in capitalist economies

TL;DR: For more than a decade now, several of my co-authors (in particular, Bruce Greenwald and Andrew Weiss) have been exploring the thesis that it is imperfections in the capital market imperfections which themselves can be explained by imperfect information which account for many of the peculiar aspects of the behavior of the economy which macroeconomics attempts to exp1ain this paper.
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Models and Their Uses

TL;DR: In this paper, a stochastic general equilibrium model for small macroeconomic vector autoregressive models connecting monetary variables to output and prices is presented. But it is argued that modeling in different styles will be appropriate for different purposes or different stages in the development of an area of economics.