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....

This paper assesses the dynamic behaviour of policies for resolving trade deficits. We extend the Thirlwall-based model by introducing an equation for setting current account policy. Steady-state solutions implying current account equilibrium emerge under autonomous spending contraction,...