Monetary impacts on prices in the short and long run: some evidence from New Zealand

This paper presents support for long-run monetary neutrality based on evidence that individual time series for money, manufacturing prices, and agricultural prices are nonstationary but cointegrated, with a stationary proportional long-run relationship among their levels. Dynamic simulations from a...

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Veröffentlicht in:	American journal of agricultural economics 1990-02, Vol.72 (1), p.160-171
Hauptverfasser:	Robertson, J.C. (Virginia Polytechnic Institute and State University), Orden, D
Format:	Artikel
Sprache:	eng
Schlagworte:	Agricultural prices Agriculture cointegration ESTADISTICA Forecasting models INTEGRACION INTEGRATION long-run monetary neutrality Market prices MODELE Modeling MODELOS Money supply New Zealand NOUVELLE-ZELANDE NUEVA ZELANDIA Null hypothesis POLITICA MONETARIA POLITIQUE MONETAIRE PRECIOS Price shocks Prices PRIX PROGRAMACION PROGRAMMATION STATISTIQUE Supply shocks unit roots Vector autoregression vector error-correction models
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