Long-run monetary neutrality: Evidence from high inflation countries

Erdinc Telatar; Tarkan Cavusoglu

Long-run monetary neutrality: Evidence from high inflation countries

Erdinc Telatar
, Tarkan Cavusoglu

Division of Theory of Public Finance

Hacettepe University

Research output: Contribution to journal › Article › peer-review

7 Citations (Scopus)

Abstract

The aim of this paper is to investigate issues of long-run neutrality and long-run superneutrality of money using data of high inflation countries (Argentina, Brazil, Ecuador, Mexico, Uruguay and Turkey). It is found that money is long-run neutral but not superneutral with respect to real output for Argentina and Uruguay indicating that money growth has a negative effect on real output. The long-run superneutrality holds for Brazil, Mexico and Turkey. The long-run neutrality is rejected for Ecuador.

Original language	English
Pages (from-to)	895-910
Number of pages	16
Journal	Ekonomicky Casopis
Volume	53
Issue number	9
Publication status	Published - 2005

Keywords

Inflation
Long-run neutrality

Cite this

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AB - The aim of this paper is to investigate issues of long-run neutrality and long-run superneutrality of money using data of high inflation countries (Argentina, Brazil, Ecuador, Mexico, Uruguay and Turkey). It is found that money is long-run neutral but not superneutral with respect to real output for Argentina and Uruguay indicating that money growth has a negative effect on real output. The long-run superneutrality holds for Brazil, Mexico and Turkey. The long-run neutrality is rejected for Ecuador.

KW - Inflation

KW - Long-run neutrality

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ER -

Long-run monetary neutrality: Evidence from high inflation countries

Abstract

Keywords

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