This paper tests for long run effects of money on real expenditures in the U.S. over the 1959-2002 period. Real consumption and investment expenditures, as well as their broadly defined components, are examined. We also test for effects of money on long run reallocations of consumption...

The Fisher-Seater (1993) methodology is applied to Nicaraguan data in order to test for long-run neutrality of money. Both the monetary base and M2a are found to be I(2) variables while real GDP is I(1). Given these orders of integration, the neutrality hypothesis cannot be rejected under their...

The Fisher-Seater (1993) methodology is applied to Nicaraguan data to test for long run neutrality and superneutrality of money. Real GDP and real output in six broadly defined sectors are I(1), while the money supply is I(2). These orders of integration imply that money is neutral with respect...

The Fisher-Seater methodology is used to investigate long run money neutrality in Mexico from 1932-2001. Long run neutrality is rejected for the full sample period. However, evidence suggests that the rejection is the result of a severe, downward shift in the mean growth rate of real GDP...