Is there long-run money neutrality under different exchange rate regimes?
Document Type
Journal article
Source Publication
Pacific Economic Review
Publication Date
10-1-2005
Volume
10
Issue
3
First Page
361
Last Page
370
Abstract
This paper tests the long-run money neutrality across different exchange rate regimes, empirically extending the concept of M. E. Fisher and J. J. Seater. Strong evidence shows the non-neutrality of two forms of money for the Hong Kong economy across the two regimes. While the Hong Kong M1 is marginally non-neutral under the float, it is clearly not neutral afterwards. The M2 is non-neutral both before and after the linked exchange rate.
DOI
10.1111/j.1468-0106.2005.00278.x
Print ISSN
1361374X
E-ISSN
14680106
Publisher Statement
Copyright © 2005 Blackwell Publishing Ltd
Access to external full text or publisher's version may require subscription.
Full-text Version
Publisher’s Version
Language
English
Recommended Citation
Ran, J. (2005). Is there long-run money neutrality under different exchange rate regimes? Pacific Economic Review, 10(3), 361-370. doi: 10.1111/j.1468-0106.2005.00278.x