The Money Stock, the Price Level and Real Output: A Trivariate Analysis
AbstractThis study investigates the effects of monetary changes on the U.S. economy. The emphasis is on establishing a causal flow from the money supply (nominal variable) to the two components of nominal output--the price level and real output (real variable). Test results indicate that the impact of monetary growth on nominal output operates through both price levels and real output changes. This impact is positive with respect to both of these variables.
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Bibliographic InfoArticle provided by Eastern Economic Association in its journal Eastern Economic Journal.
Volume (Year): 16 (1990)
Issue (Month): 2 (Apr-Jun)
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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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NBER Working Papers
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