You are here:
Publication details
European Evidence on the Long-Run Superneutrality of Money
Authors | |
---|---|
Year of publication | 2015 |
Type | Article in Proceedings |
Conference | European Financial Systems 2015. Proceedings of the 12th International Scientific Conference |
MU Faculty or unit | |
Citation | |
Web | http://is.muni.cz/do/econ/sborniky/2015/EFS_2015_proceedings.pdf |
Field | Management and administrative |
Keywords | moeny superneutrality; SVAR |
Description | This article investigates the validity of the money superneutrality concept for the sample of 30 European economies. Using a structural vector autoregrese framework, we examine the long-run response of real output to a permanent inflation shock for each country. We find that for the majority of countries in our sample the long-run superneutrality concept is confirmed as the original increase/decrease in output growth fades in time. We also fail to proof the additional hypothesis that the exception to superneutrality validity is a group of countries with smaller in-sample inflation mean. |
Related projects: |