Effects of foreign currency component in monetary aggregates on money neutrality
Document Type
Journal article
Source Publication
Economics Letters
Publication Date
6-1-2008
Volume
99
Issue
3
First Page
435
Last Page
438
Publisher
Elsevier B.V.
Keywords
Foreign currency component, M1, M2, Money neutrality
Abstract
We test the money neutrality from a new angle. The in-sample investigation provides evidence that M1 and M2 with or without foreign currency component affect nominal GDP. The out-of-sample approach shows money tends to affect nominal more than real GDP.
DOI
10.1016/j.econlet.2007.09.008
Print ISSN
01651765
E-ISSN
18737374
Publisher Statement
Copyright © 2007 Elsevier B.V.
Access to external full text or publisher's version may require subscription.
Full-text Version
Publisher’s Version
Language
English
Recommended Citation
Ran, J., Voon, J. P., & Li, G. (2008). Effects of foreign currency component in monetary aggregates on money neutrality. Economics Letters, 99(3), 435-438. doi: 10.1016/j.econlet.2007.09.008