Anticipated Money, Unanticipated Money, and Output: 1873-1930

James S Fackler and Randall E Parker

Economic Inquiry, 1990, vol. 28, issue 4, 774-87

Abstract: Unanticipated money does, and anticipated money does not, influence output for the period between the Civil War and the depression. These conclusions, reached using a two-step econometric procedure, appear robust for a wide variety of measures of output and for two alternate definitions of money. Copyright 1990 by Oxford University Press.

Date: 1990
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