Is monetary policy really neutral in the long-run? Evidence for some emerging and developed economies

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Reginaldo Pinto Nogueira;
  • Journal: Economics Bulletin,volume 29,issue 3,pages2,432-2,437
  • Subject: Money neutrality, monetary policy, cointegration tests.
    • jel: jel:E0 | jel:E4

The traditional economic theory suggests that changes in the money supply or in the interest rates can influence the business cycle, but not the long-run potential output. In other words, monetary policy is neutral over the long-run. In this paper we use some new develo... View more
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