Effects of foreign currency component in monetary aggregates on money neutrality
We test the money neutrality from a new angle. The in-sample investigation provides evidence that M1 and M2 with or without foreign currency component affect nominal GDP. The out-of-sample approach shows money tends to affect nominal more than real GDP.
Year of publication: |
2008
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Authors: | Ran, Jimmy ; Voon, Jan P. ; Li, Guangzhong |
Published in: |
Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 99.2008, 3, p. 435-438
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Publisher: |
Elsevier |
Saved in:
Online Resource
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