Long-run monetary neutrality: Evidence from high inflation countries
EKONOMICKY CASOPIS, cilt.53, sa.9, ss.895-910, 2005 (SSCI, Scopus)
- Yayın Türü: Makale / Tam Makale
- Cilt numarası: 53 Sayı: 9
- Basım Tarihi: 2005
- Dergi Adı: EKONOMICKY CASOPIS
- Derginin Tarandığı İndeksler: Social Sciences Citation Index (SSCI), Scopus
- Sayfa Sayıları: ss.895-910
- Hacettepe Üniversitesi Adresli: Evet
Özet
The aim of this paper is to investigate issues of long-run neutrality and long-run superneutrality of money using data of high inflation countries (Argentina, Brazil, Ecuador, Mexico, Uruguay and Turkey). It is found that money is long-run neutral but not superneutral with respect to real output for Argentina and Uruguay indicating that money growth has a negative effect on real output. The long-run superneutrality holds for Brazil, Mexico and Turkey. The long-run neutrality is rejected for Ecuador.