Long-Run Neutrality and Superneutrality in an ARIMA Framework

Mark Fisher and John Seater ()

American Economic Review, 1993, vol. 83, issue 3, 402-15

Abstract: The authors formalize long-run neutrality and long-run superneutrality in the context of a bivariate ARIMA model; show how the restrictions implied by long-run neutrality and long-run superneutrality depend on the orders of integration of the variables; apply their analysis to previous work, showing how that work is related to long-run neutrality and long-run superneutrality; and provide some new evidence on long-run neutrality and long-run superneutrality. Copyright 1993 by American Economic Association.

Date: 1993
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