Long-Run Monetary Neutrality: Evidence from High Inflation Countries
Long-Run Monetary Neutrality: Evidence from High Inflation Countries

Summary/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

• Details
• Contents