Long-run monetary neutrality
In this article, we provide a test of long-run monetary neutrality employing cointegration and vector error-correction modelling methodology. Using quarterly data for the United States, we estimate the long-run relationships among money supply and output and other key macroeconomic variables. Our findings, in general, raise doubts about the long-run monetary neutrality proposition.
Year of publication: |
2009
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Authors: | Atesoglu, H. Sonmez ; Emerson, Jamie |
Published in: |
Applied Economics. - Taylor & Francis Journals, ISSN 0003-6846. - Vol. 41.2009, 16, p. 2025-2036
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Publisher: |
Taylor & Francis Journals |
Saved in:
Online Resource
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