Pruebas de la Neutralidad Monetaria a Largo Plazo: El Caso de Nicaragua
Document Type
Review
Publication Date
7-1-2004
Description
The Fisher-Seater (1993) methodology is applied to Nicaraguan data in order to test for long-run neutrality and superneutrality of money. Both the monetary base and M2a are found to be I(2) variables while real GDP is I(1). Given these orders of integration, the neutrality hypothesis cannot be rejected under their test. Furthermore, neither of the measures of money is superneutral but the evidence against the proposition is not strong. The results suggest that inflation imposed real costs on the economy.
Citation Information
Wallace, Frederick H.; Shelley, Gary L.; and Castellanos, Luis Fernando. 2004. Pruebas de la Neutralidad Monetaria a Largo Plazo: El Caso de Nicaragua. Trimestre Economico. Vol.71(3). 613-624. https://www.jstor.org/stable/20856828 ISSN: 0041-3011