Money and output: New evidence based on wavelet coherence

Petre Caraiani

Economics Letters, 2012, vol. 116, issue 3, 547-550

Abstract: We reassess the relationship between money and output using quarterly data from the US economy. We use several tools based on wavelets, the wavelet power transform and the wavelet coherence with which we analyze this relationship in both time and frequency. We find evidence of a weaker relationship within the Great Moderation as well as a stronger relationship during the Great Recession.

Keywords: Business cycles; Money; Wavelets (search for similar items in EconPapers)
JEL-codes: E32 E4 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (26)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:116:y:2012:i:3:p:547-550

DOI: 10.1016/j.econlet.2012.02.032

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