Relative Prices and Money: Further Results for the United States

S. Devadoss and William H. Meyers

American Journal of Agricultural Economics, 1987, vol. 69, issue 4, 838-842

Abstract: Empirical results support the hypothesis that agricultural prices respond faster than manufactured product prices to a change in money supply in the United States. Sims' vector autoregression (VAR) technique was applied in examining this hypothesis. The monte-carlo integration method was used to test the significance of the impulse responses generated by the VAR technique.

Date: 1987
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