TESTS OF MONETARY NEUTRALITY ON FARM OUTPUT

Stephen Devadoss

Western Journal of Agricultural Economics, 1991, vol. 16, issue 01, 1

Abstract: According to the monetary neutrality hypothesis, only the unanticipated money supply growth has impacts on real economic variables, and the anticipated money supply growth has no real impacts. The monetary neutrality hypothesis is tested on real farm output. The test procedure involves joint estimation of farm output and the money growth equation. The empirical results show that the anticipated money supply growth does have significant effects on farm output and, thus, do not support the monetary neutrality hypothesis.

Keywords: Financial; Economics (search for similar items in EconPapers)
Date: 1991
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:wjagec:32626

DOI: 10.22004/ag.econ.32626

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