SECTORAL MONEY SUPPLY EFFECTS IN UKRAINE
SECTORAL MONEY SUPPLY EFFECTS IN UKRAINE
Author(s): Victor ShevchukSubject(s): Economy, National Economy, Evaluation research
Published by: Szkoła Główna Gospodarstwa Wiejskiego w Warszawie
Keywords: rational expectations; output; anticipated and unanticipated money supply;
Summary/Abstract: This paper examines the effects of anticipated and unanticipated money supply shocks over the 1999─2013 period across several sectors of the Ukraine’s economy. It is found that the anticipated money supply shock contributes to output growth in agriculture, food processing and machine-building industries, with no impact for the steel industry. Unanticipated money shock is expansionary for the machine-building industry, while being restrictionary for agriculture. In general, our results reject the Monetary Neutrality Hypothesis (MNH).
Journal: Metody Ilościowe w Badaniach Ekonomicznych
- Issue Year: XV/2014
- Issue No: 2
- Page Range: 209-222
- Page Count: 14
- Language: English