Long-run monetary neutrality: Evidence from high inflation countries

TELATAR E. , Cavusoglu T.

EKONOMICKY CASOPIS, cilt.53, ss.895-910, 2005 (SSCI İndekslerine Giren Dergi) identifier identifier

  • Cilt numarası: 53 Konu: 9
  • Basım Tarihi: 2005
  • Sayfa Sayıları: ss.895-910


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.