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Our aim of this part of the project is to go through a detailed analysis of Brazils statistical information which is to be found in the appendix provided By analysing the data in our appendix we found out the relation between different variables whether these relations being negative or positive We must now find out whether those relationships that we have come to conclude actually are consistent with any of the economic theories that we have learned during this course Our interpretation will be based on the following theories and these are the Monetarist Classical New Classical Keynesian and New Keynesian However it must be noted that we will not mention each and every correlation coefficient that we have obtained in the previous section but rather only those which are of relevance and provide critical information needed in our report We would further like to note that the interpretation to follow and the data we have calculated are based on the data we have collected from the IFS it is important to note that the following remarks about the above mentioned theories are only our opinions regarding this matter however it does not aim to prove the deficietcy of these theories By looking at our statistical data we concluded that the two variables percentage change in Money and percentage change in Output do not move together This applies for both lagged and contemporaneous percentage changes in money growth The Monetarists explanation represented in the Equation of Exchange doesnt go with the previous idea According to the Equation of Exchange MVPY which relates nominal income to the quantity of money and velocity Where V is relatively stable and slow to change due to limited improvements in technology and P is relatively stable as well in the short runBoth are not flexible in the short run Therefore for the equation to be true an increase in M must be met with a proportional increase in Y In
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