Monetary Aggregation and the Neutrality of Money

Posted: 6 Jun 2001

See all articles by Apostolos Serletis

Apostolos Serletis

University of Calgary - Department of Economics

Z. Koustas

Brock University - Department of Economics

Abstract

This 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) monetary aggregates using the Anderson et al. (1997a, 1997b) series of Divisia and CE monetary aggregates.

Suggested Citation

Serletis, Apostolos and Koustas, Z., Monetary Aggregation and the Neutrality of Money. Economic Inquiry, Vol. 39, Issue 1, January 2001. Available at SSRN: https://ssrn.com/abstract=253092

Apostolos Serletis (Contact Author)

University of Calgary - Department of Economics ( email )

2500 University Drive, NW
Calgary, Alberta T2N 1N4
Canada
403 220-4091 (Phone)
403 282-5262 (Fax)

Z. Koustas

Brock University - Department of Economics ( email )

500 Glenridge Avenue
St. Catherines, Ontario L2S 3A1
Canada
905 688-5550 (Phone)
905 988-9388 (Fax)

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