Some further evidence on the long-run neutrality of money

被引：15
|
作者：
Olekalns, N
机构：
[1] Department of Economics, University of Melbourne, Parkville
来源：
ECONOMICS LETTERS | 1996年 / 50卷 / 03期
关键词：
neutrality of money;
D O I：
10.1016/0165-1765(95)00773-3
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
A recently developed reduced-form test for long-run neutrality is applied to twentieth-century Australian data on real output and the nominal money stock. The results show that narrowly defined money is neutral. However, real output is not invariant in the long run to a broader-based measure of the money stock.
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页码：393 / 398
页数：6
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