Results 251 to 260 of about 180,334 (290)
Some of the next articles are maybe not open access.
Monetary Aggregation and the Neutrality of Money
Economic Inquiry, 2001This article tests the long‐run neutrality of money proposition using quarterly U.S. data over the period from 1960:1 to 1996:2 and the methodology suggested by King and Watson (1997), paying particular attention to the integration and cointegration properties of the variables. Comparisons are made among simple sum, Divisia, and currency equivalent (CE)
A Serletis, Z Koustas
openaire +2 more sources
Journal of Political Economy, 1973
The neutrality of changes in the monetary base and reserve requirements is examined assuming the existence of two forms of money and an arbitrary number of other financial assets. Necessary and sufficient conditions for a policy to be neutral are developed.
openaire +1 more source
The neutrality of changes in the monetary base and reserve requirements is examined assuming the existence of two forms of money and an arbitrary number of other financial assets. Necessary and sufficient conditions for a policy to be neutral are developed.
openaire +1 more source
Growth and the neutrality of money
Empirical Economics, 1996Using two simple stochastic growth models that nest both exogenous and endogenous growth, this paper shows that money should not be neutral in the long run if it is not neutral in the short run and if growth is endogenous. By contrast, if growth is exogenous, money should be neutral in the long run.
openaire +1 more source
1987
‘Neutrality of money’ is a shorthand expression for the basic quantity-theory proposition that it is only the level of prices in an economy, and not the level of its real outputs, that is affected by the quantity of money which circulates in it. Thus the notion — though not the term — goes back to early statements of the quantity theory, such as the ...
openaire +1 more source
‘Neutrality of money’ is a shorthand expression for the basic quantity-theory proposition that it is only the level of prices in an economy, and not the level of its real outputs, that is affected by the quantity of money which circulates in it. Thus the notion — though not the term — goes back to early statements of the quantity theory, such as the ...
openaire +1 more source
The Realization of Neutral Money
1989Our minds are accustomed to money as we know it. Neutral money has had little chance to unfold its own variety of forms in practice. Theoretical fantasy usually cannot compete with the manifoldness of reality. Thus it is difficult to predict what will happen once development of “neutral” transaction technologies has started.
openaire +1 more source
What is the neutrality of money?
Economics Letters, 1994Abstract Two objections are made to the concept of superneutrality of money. It is not the logical counterpart to static neutrality of money. Secondly, it would be preferable to focus on the impact of real balances not solely on the capital-labor ratio and the real rate but on a broader range of real variables.
openaire +1 more source
Hayek on the Neutrality of Money
2016Abstract The concept of “neutral money” has a long history in monetary theory and macroeconomics. Like a number of other macro concepts, its meaning has been subject to a variety of interpretations over the decades. I explore the way in which Hayek used this term in his monetary writings in the 1930s and argue that “neutrality” for ...
openaire +1 more source
Indivisibility and Non-Neutrality of Money [PDF]
, 2007 In this paper, we study the real effects of different degrees of divisibility of money in a random matching model. When money is very indivisible, as it is seemingly true in most of the world before the 19th century, welfare increases as the divisibility of money increases (non-neutrality). However, when the degree of divisibility is sufficiently high,
openaire
This is a unique account of the role played by 58 figures and diagrams commonly used in economic theory. These cover a large part of mainstream economic analysis, both microeconomics and macroeconomics and also general equilibrium theory.
openaire +1 more source
openaire +1 more source