International Evidence on the Neutrality of Money

Apostolos Serletis () and Z Moustas

Working Papers from Calgary - Department of Economics

Abstract: We use Backus and Kehoe (1992) long, low frequency data on real GNP/GDP and money for Australia, Canada, Denmark, Germany, Italy, Japan, Norway, Sweden, the United Kingdom and the Uniter States to examine the long-run neutrality and superneutrality of money propositions. In doing so, we apply the King and Watson (1992) methodology, paying particular attention to the integration and cointegration properties of the variable, since meaningful neutrality tests critically depend on such properties.

Keywords: MONEY; INTEREST RATE; MONETARY POLICY; CENTRAL BANKS; CREDIT; MONEY SUPPLY (search for similar items in EconPapers)
JEL-codes: E40 E50 C32 (search for similar items in EconPapers)
Date: 1997

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Journal Article: International Evidence on the Neutrality of Money (1998)
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