TESTS OF MONETARY NEUTRALITY ON FARM OUTPUT

According to the monetary neutrality hypothesis, only the unanticipated money supply growth has impacts on real economic variables, and the anticipated money supply growth has no real impacts. The monetary neutrality hypothesis is tested on real farm output. The test procedure involves joint estimation of farm output and the money growth equation. The empirical results show that the anticipated money supply growth does have significant effects on farm output and, thus, do not support the monetary neutrality hypothesis.


Issue Date:
1991-07
Publication Type:
Journal Article
Record Identifier:
http://ageconsearch.umn.edu/record/32626
PURL Identifier:
http://purl.umn.edu/32626
Published in:
Western Journal of Agricultural Economics, Volume 16, Number 1
Page range:
163-163
Total Pages:
1




 Record created 2017-04-01, last modified 2018-01-22

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