Effects of foreign currency component in monetary aggregates on money neutrality

We test the money neutrality from a new angle. The in-sample investigation provides evidence that M1 and M2 with or without foreign currency component affect nominal GDP. The out-of-sample approach shows money tends to affect nominal more than real GDP.

MoreLess

Year of publication:	2008
Authors:	Ran, Jimmy ; Voon, Jan P. ; Li, Guangzhong
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 99.2008, 3, p. 435-438
Publisher:	Elsevier

More details

Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005307687