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Testing long-run neutrality of money: evidence from the UK

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  • Dimitrios Malliaropulos

Abstract

The paper presents empirical evidence on the long-run neutrality of monetary policy in the UK based on the methodology developed by Fisher and Seater. Money is found to be long-run neutral with respect to real GDP and real equity prices. However, in the short to medium term permanent positive shocks to money supply seem to be positively correlated with real GDP and negatively correlated with real equity prices.

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File URL: http://www.informaworld.com/openurl?genre=article&doi=10.1080/758518986&magic=repec&7C&7C8674ECAB8BB840C6AD35DC6213A474B5
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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Applied Economics Letters.

Volume (Year): 2 (1995)
Issue (Month): 10 ()
Pages: 347-350

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Handle: RePEc:taf:apeclt:v:2:y:1995:i:10:p:347-350

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Cited by:
  1. Chin-Hong Puah & Muzafar Shah Habibullah & Venus Khim-Sen Liew, 2010. "Is money neutral in stock market? The case of Malaysia," Economics Bulletin, AccessEcon, vol. 30(3), pages 1852-1861.
  2. Chin-Hong Puah, & Muzafar Shah Habibullah & Kian-Ping Lim, 2006. "Testing Long-Run Neutrality Of Money: Evidence From Malaysian Stock Market," The IUP Journal of Applied Economics, IUP Publications, vol. 0(4), pages 15-37, July.
  3. Puah, Chin-Hong & Habibullah, Muzafar Shah & Abu Mansor, Shazali, 2008. "Some Empirical Evidence on the Quantity Theoretic Proposition of Money in ASEAN-5," MPRA Paper 31768, University Library of Munich, Germany.

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