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Long-run monetary neutrality

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  • H. Sonmez Atesoglu
  • Jamie Emerson

Abstract

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.

Suggested Citation

  • H. Sonmez Atesoglu & Jamie Emerson, 2009. "Long-run monetary neutrality," Applied Economics, Taylor & Francis Journals, vol. 41(16), pages 2025-2036.
  • Handle: RePEc:taf:applec:v:41:y:2009:i:16:p:2025-2036
    DOI: 10.1080/00036840701604479
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    Cited by:

    1. Tang, Maggie May-Jean & Puah, Chin-Hong & Awang Marikan, Dayang-Affizzah, 2013. "Empirical Evidence on the Long-Run Neutrality Hypothesis Using Divisia Money," MPRA Paper 50020, University Library of Munich, Germany.
    2. Wong, Soon-Ming & Loi, Siew-Ling, 2016. "Money Influence on Real Economy Activity: Evidences Review on Japanese Context," MPRA Paper 73559, University Library of Munich, Germany.
    3. Amusa, Kafayat & Gupta, Rangan & Karolia, Shaakira & Simo-Kengne, Beatrice D., 2013. "The long-run impact of inflation in South Africa," Journal of Policy Modeling, Elsevier, vol. 35(5), pages 798-812.

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