Tests of Equilibrium Macroeconomics Using Contemporaneous Monetary Data [PDF]
This paper uses contemporaneous monetary data to carry out econometric tests of the "equilibrium" approach to modeling the relation between monetary disturbances and macroeconomic fluctuations.
Herschel I. Grossman, John F. Boschen
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The role of expectations in economic fluctuations and the efficacy of monetary policy [PDF]
, 2003 We show diverse beliefs is an important propagation mechanism of fluctuations, money non neutrality and efficacy of monetary policy. Since expectations affect demand, our theory shows economic fluctuations are mostly driven by varying demand not supply ...
Motolese, Maurizio +2 more
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A Note on the Long-Run Neutrality of Monetary Policy: New Empirics [PDF]
SSRN Electronic Journal, 2013 Economic theory traditionally suggests that monetary policy can influence the business cycle, but not the long-run potential output. Despite well documented theoretical and empirical consensus on money neutrality in the literature, the role of money as an informational variable for monetary policy decision has remained opened to debate with empirical ...
openaire +5 more sources
On the Long-Run Monetary Neutrality: Evidence from the SEACEN Countries [PDF]
This paper tests the long run neutrality (LRN) and long run superneutrality (LRSN) propositions using annual observation from 10 member countries of the South East Asian Central Banks (SEACEN) Research and Training Centre.
Abu Mansor, Shazali +2 more
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Is monetary policy really neutral in the long-run? Evidence for some emerging and developed economies [PDF]
The traditional economic theory suggests that changes in the money supply or in the interest rates can influence the business cycle, but not the long-run potential output. In other words, monetary policy is neutral over the long-run. In this paper we use
Reginaldo Pinto Nogueira
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Net Neutrality and Mandatory Network-Sharing: How to disconnect the continent. CEPS Policy Brief No. 309, 18 December 2013 [PDF]
, 2013 A lively debate emerged on the proposed “Connected Continent” legislative package presented by the European Commission in September 2013. The package contains a proposed rule on the ‘open Internet’, which was heavily discussed in European Parliament ...
Renda, Andrea.
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An Integrated View of Tests of Rationality, Market Efficiency, and the Short-Run Neutrality of Monetary Policy [PDF]
This paper analyzes an important class of models in which expectations play an important role. Topics included in the analysis are tests of: (1) rationality of forecasts in either market or survey data, (2) capital market efficiency, (3) the short-run ...
Frederic S. Mishkin, Andrew B. Abel
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Some Long-Run Correlations of Inflation in Developed Countries
Economía, 2022 Using 100+ years of data from 18 developed countries, we use a frequency domain technique to compute “long-run” correlations between inflation on the one hand and money growth and nominal interest rates on the other.
Kenneth D. West, Tu Cao
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The Implications of an Endogenous Money Supply for Monetary Neutrality [PDF]
This paper examines the implications of an endogenous money supply for the perceived(by econometricians) and actual nonneutrality of money in rational expectations models of the class put forward by Lucas (1972, 1973) and Barro(1976, 1980) that stress ...
Robert G. King, Bharat Trehan
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The Effects of Monetary Policies in Iran’s Economy: A Financial Computable General Equilibrium Model [PDF]
Faslnāmah-i Pizhūhish/Nāmah-i Iqtisādī, 2009 This paper has assessed the neutrality of money in Iran’s economy by using a Computable General Equilibrium (CGE) model. Regarding this assessment, initially a computable general equilibrium was organized in which the financial market plays an essential ...
Rahman Khoshakhlagh +2 more
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