Jones, Barry E.; Stracca, Livio - 2008
does not hold, however). A main finding is that the UK data seem to be broadly consistent with additive separability for … forward-looking IS curve for the UK, building on the theoretical framework of Ireland (2004). To do this, we test for additive … separability between consumption and money over a sizeable part of the post-ERM period using non-parametric methods. If consumption …