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Does money still matter for U.S. output?
Free University Berlin, Economics Department, Berlin, Germany; CESifo, Germany.
National Institute of Economic Resarch, Stockholm, Sweden.ORCID iD: 0000-0002-4840-7649
2009 (English)In: Economics Letters, ISSN 0165-1765, E-ISSN 1873-7374, Vol. 102, no 3, 143-146 p.Article in journal (Refereed) Published
Abstract [en]

In this note, we use an out-of-sample approach to investigate whether money growth Granger-causes output growth in the United States. We find that after the ‘Great moderation,’ the Granger-causal role of money appears to have vanished completely.

Place, publisher, year, edition, pages
Elsevier, 2009. Vol. 102, no 3, 143-146 p.
Keyword [en]
Bayesian VAR, out-of-sample forecasting, Granger causality, Federal Reserve, Volcker
National Category
Economics
Research subject
Economics
Identifiers
URN: urn:nbn:se:oru:diva-61068DOI: 10.1016/j.econlet.2008.11.029ISI: 000264473100001Scopus ID: 2-s2.0-60449102604OAI: oai:DiVA.org:oru-61068DiVA: diva2:1141779
Available from: 2017-09-15 Created: 2017-09-15 Last updated: 2017-09-22Bibliographically approved

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