Publication details
European Evidence on the Long-Run Superneutrality of Money
| Authors | |
|---|---|
| Year of publication | 2015 |
| Type | Article in Proceedings |
| Conference | European Financial Systems 2015. Proceedings of the 12th International Scientific Conference |
| MU Faculty or unit | |
| Citation | |
| Web | http://is.muni.cz/do/econ/sborniky/2015/EFS_2015_proceedings.pdf |
| Field | Management and administrative |
| Keywords | moeny superneutrality; SVAR |
| Description | This article investigates the validity of the money superneutrality concept for the sample of 30 European economies. Using a structural vector autoregrese framework, we examine the long-run response of real output to a permanent inflation shock for each country. We find that for the majority of countries in our sample the long-run superneutrality concept is confirmed as the original increase/decrease in output growth fades in time. We also fail to proof the additional hypothesis that the exception to superneutrality validity is a group of countries with smaller in-sample inflation mean. |
| Related projects: |