Does money still matter for U.S. output?
In this note, we use an out-of-sample approach to investigate whether money growth Granger-causes output growth in the United States. We find that after the 'Great moderation,' the Granger-causal role of money appears to have vanished completely.
Year of publication: |
2009
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Authors: | Berger, Helge ; Österholm, Pär |
Published in: |
Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 102.2009, 3, p. 143-146
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Publisher: |
Elsevier |
Keywords: | Bayesian VAR Out-of-sample forecasting Granger causality Federal Reserve Volcker |
Saved in:
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