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Does money still matter for U.S. output?
Berger, Helge ;  Österholm, Pär ;  Universität <Berlin, Freie Universität> / Fachbereich Wirtschaftswissenschaft

Main titleDoes money still matter for U.S. output?
AuthorBerger, Helge
AuthorÖsterholm, Pär
InstitutionUniversität <Berlin, Freie Universität> / Fachbereich Wirtschaftswissenschaft
No. of Pages10 S.
Series Diskussionsbeiträge des Fachbereichs Wirtschaftswissenschaft ; 2008/07 : Volkswirtschaftliche Reihe
KeywordsBayesian VAR, Out-of-Sample Forecasting, Granger Causality, Money, Output, Federal Reserve, Volcker
Classification (DDC)337 International economics
339 Macroeconomics and related topics
Also published in
AbstractIn this note, we use multivariate models estimated with Bayesian techniques and an out-ofsample approach to investigate whether money growth Granger-causes output growth in the United States. We find surprisingly strong evidence for a money-output link over the 1960-2005 period. However, further analysis indicates that this result is likely to be misleading; after the ‘Great moderation’, the Granger-causal role of money appears to have vanished completely.
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FU DepartmentDepartment Business and Economics
Other affiliation(s)Lehrstuhl für Geldtheorie und Geldpolitik
Year of publication2008
Type of documentBook
LanguageEnglish
Terms of use/Rights Nutzungsbedingungen
Created at2009-07-29 : 07:47:25
Last changed2014-01-23 : 04:20:09
 
Static URLhttp://edocs.fu-berlin.de/docs/receive/FUDOCS_document_000000002792
ISBN3-938369-78-7
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