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Published:
Apr 17, 1992Keywords:
Price Indexes Inflation Real Consumption Income and Money Supply Sensitivity and Stability Analyses She Economic Recovery Programme
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The copyright of a submitted article is only transferred to the publishers if and when the article is accepted for publication. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, electrostatic, mechanical, photocopying, recording or otherwise without the prior written permission of the publishers.
Main Article Content
Towards Rationalizing Income, Money Supply and Consumer Behaviour in Ghana (1972 - 1987)
Abstract
As an indicator of price change, the incidence of high price indexes and its derived counterpart, inflation, usually overemphasise the nominal values of economic variables, at the expense of real values. Given inflation as a monetary phenomenon, real variables may not respond equi-proportionately to an exogenous monetary shock. This underscored the gradual but stable responsiveness of real consumption activity variables due to government's monetary and other related policy initiatives as empirically rationalized in this paper for Ghana during the 1972 - 1987 period.
