Long Run Money Neutrality: The Case of Guatemala

Frederick Wallace

Revista Latinoamericana de Desarrollo Economico, 2005, issue 5, 127-138

Abstract: The Fisher and Seater (1993) methodology is used to test for the long run neutrality of money in Guatemala, 1950-2001. Real GDP, real per capita GDP, and the money measures, M1 and M2, are integrated of order one [I (l)]. Given these orders of integration, the Fisher-Seater neutrality test can be applied. The evidence suggests that M1 and M2 are neutral with respect to real GDP. Furthermore, the test indicates that M1, but not M2, is neutral with respect to real per capita GDP as well.

Keywords: Money; Ecomomic; Guatemala; Neutrality (search for similar items in EconPapers)
JEL-codes: Z00 (search for similar items in EconPapers)
Date: 2005
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Citations: View citations in EconPapers (4)

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