Testing for Common Cycles in Money, Nominal Income and Prices

Stephen Hall and David Shepherd

Manchester School, 2003, vol. 71, issue s1, 68-84

Abstract: In this paper we consider whether common cyclical dynamics can be identified in the money–inflation relationships suggested by the quantity theory of money. The analysis is based on an examination of data for the USA and the UK, using correlation methods and the more stringent common features test developed by Engle and Kozicki. We discuss the nature of the test procedures and the results from the common features test are compared with those obtained from the more traditional correlation analysis. The results of the analysis are mixed, but are generally supportive of the quantity theory.

Date: 2003
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
https://doi.org/10.1111/1467-9957.71.s.5

Related works:
Working Paper: Testing for Common Cycles in Money, Nominal Income and Prices (1999)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:manchs:v:71:y:2003:i:s1:p:68-84

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=1463-6786

Access Statistics for this article

Manchester School is currently edited by Keith Blackburn

More articles in Manchester School from University of Manchester Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().