| dc.description.abstract | This thesis is concerned with the money supply process and the
transmission mechanism of monetary changes in the Greek Economy. The
first chapter of the thesis presents a survey of the theory of the
money stock determination. After a discussion of the problems surrounding
the definition of money, the old and new views on the money stock
determination are examined. The survey ends with an examination of the
concept of the monetary base and the problem of its control by the
authorities. The second chapter provides a detailed account of the
money supply process in the Greek economy, by examining both theoretically
and empirically the dependence of the money multiplier upon
interest rates. The third chapter represents an empirical analysis
of the question on whether the Greek authorities have been controlling
the cash base of the system or/and its domestic component. Chapter
four discusses some theoretical aspects of the transmission mechanism
of monetary policy and provides some preliminary empirical evidence
regarding the potential importance of money in influencing economic
activity in the Greek economy. Finally, the last chapter of the thesis
presents a detailed theoretical model which takes into account the
institutional peculiarities of the Greek financial system and, in the
context of this model, examines the mechanisms through which the policy
instruments affect the main endogenous variables of the system. | en_US |
