On the Non-Neutrality of Money: Evidence from the 1990s

Petr Duczynski

Prague Economic Papers, 2004, vol. 2004, issue 1, 40-54

Abstract: The paper examines the cross-country relations between nominal money and real output between 1990 and 2000. Both high money growth rates and declines in money are connected with below-average output growth rates. The association between the monetary base and real output is weaker than between M1 (or M2) and real output. I observe no tendency of money changes to precede output changes.

Keywords: consumer prices; M1; M2; monetary base; real output (search for similar items in EconPapers)
JEL-codes: E32 E51 (search for similar items in EconPapers)
Date: 2004
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Citations: View citations in EconPapers (1)

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DOI: 10.18267/j.pep.230

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