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Testing the long-run neutrality of money in a developing economy: the case of India

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  • Moosa, Imad A.

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  • Moosa, Imad A., 1997. "Testing the long-run neutrality of money in a developing economy: the case of India," Journal of Development Economics, Elsevier, vol. 53(1), pages 139-155, June.
    • Handle: RePEc:eee:deveco:v:53:y:1997:i:1:p:139-155
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    1. Marty, Alvin L., 1994. "What is the neutrality of money?," Economics Letters, Elsevier, vol. 44(4), pages 407-409, April.
    2. Robert G. King & Mark W. Watson, 1997. "Testing long-run neutrality," Economic Quarterly, Federal Reserve Bank of Richmond, issue Sum, pages 69-101.
    3. Duck, Nigel W., 1988. "Money, output and prices: : An empirical study using long-term cross country data," European Economic Review, Elsevier, vol. 32(8), pages 1603-1619, October.
    4. Hylleberg, S. & Engle, R. F. & Granger, C. W. J. & Yoo, B. S., 1990. "Seasonal integration and cointegration," Journal of Econometrics, Elsevier, vol. 44(1-2), pages 215-238.
    5. Thomas M. Humphrey, 1991. "Nonneutrality of money in classical monetary thought," Economic Review, Federal Reserve Bank of Richmond, vol. 77(Mar), pages 3-15.
    6. Lucas, Robert E, Jr, 1980. "Two Illustrations of the Quantity Theory of Money," American Economic Review, American Economic Association, vol. 70(5), pages 1005-1014, December.
    7. Weber, Axel A, 1994. "Testing Long-run Neutrality: Empirical Evidence for G7 Countries with Special Emphasis on Germany," CEPR Discussion Papers 1042, C.E.P.R. Discussion Papers.
    8. Mahdavi, Saeid & Zhou, Su, 1994. "Purchasing power parity in high-inflation countries: further evidence," Journal of Macroeconomics, Elsevier, vol. 16(3), pages 403-422.
    9. Geweke, John F, 1986. "The Superneutrality of Money in the United States: An Interpretation of the Evidence," Econometrica, Econometric Society, vol. 54(1), pages 1-21, January.
    10. Engle, R. F. & Granger, C. W. J. & Hylleberg, S. & Lee, H. S., 1993. "The Japanese consumption function," Journal of Econometrics, Elsevier, vol. 55(1-2), pages 275-298.
    11. Orphanides, Athanasios & Solow, Robert M., 1990. "Money, inflation and growth," Handbook of Monetary Economics, in: B. M. Friedman & F. H. Hahn (ed.), Handbook of Monetary Economics, edition 1, volume 1, chapter 6, pages 223-261, Elsevier.
    12. Driscoll, M. J. & Ford, J. L. & Mullineux, A. W. & Sen, S., 1983. "Testing of the rational expectations and structural neutrality hypotheses," Journal of Macroeconomics, Elsevier, vol. 5(3), pages 353-360.
    13. Harberger, Arnold C, 1978. "A Primer on Inflation," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 10(4), pages 505-521, November.
    14. Stock, James H. & Watson, Mark W., 1989. "Interpreting the evidence on money-income causality," Journal of Econometrics, Elsevier, vol. 40(1), pages 161-181, January.
    15. Lothian, James R, 1985. "Equilibrium Relationships between Money and Other Economic Variables," American Economic Review, American Economic Association, vol. 75(4), pages 828-835, September.
    16. Yakita, Akira, 1988. "The flow equilibrium and the neutrality of money in a neoclassical monetary growth model," Journal of Macroeconomics, Elsevier, vol. 10(2), pages 201-216.
    17. Duck, Nigel W, 1993. "Some International Evidence on the Quantity Theory of Money," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 25(1), pages 1-12, February.
    18. Fisher, Mark E & Seater, John J, 1993. "Long-Run Neutrality and Superneutrality in an ARIMA Framework," American Economic Review, American Economic Association, vol. 83(3), pages 402-415, June.
    19. Weber, Axel A., 1994. "Testing long-run neutrality: empirical evidence for G7-countries with special emphasis on Germany," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 41(1), pages 67-117, December.
    20. Mills, Terence C, 1982. "Signal Extraction and Two Illustrations of the Quantity Theory [Two Illustrations of the Quantity Theory of Money]," American Economic Review, American Economic Association, vol. 72(5), pages 1162-1168, December.
    21. Hsing, Yu, 1990. "International evidence on the non-neutrality of money," Journal of Macroeconomics, Elsevier, vol. 12(3), pages 467-474.
    22. Sims, Christopher A, 1972. "Money, Income, and Causality," American Economic Review, American Economic Association, vol. 62(4), pages 540-552, September.
    23. Gerald P. Dwyer & Rik Hafer, 1988. "Is money irrelevant?," Review, Federal Reserve Bank of St. Louis, issue May, pages 3-17.
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    Cited by:

    1. Reginaldo Pinto Nogueira, 2009. "Is monetary policy really neutral in the long-run? Evidence for some emerging and developed economies," Economics Bulletin, AccessEcon, vol. 29(3), pages 2432-2437.
    2. Asongu Simplice, 2013. "Does Money Matter in Africa? New Empirics on Long- and Short-run Effects of Monetary Policy on Output and Prices," Working Papers of the African Governance and Development Institute. 13/005, African Governance and Development Institute..
    3. Naveen Srinivasan & Vidya Mahambare & M. Ramachandran, 2006. "Modelling Inflation in India: A Critique of the Structuralist Approach," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 4(2), pages 45-58, July.
    4. Alimi, R. Santos, 2012. "The Quantity Theory of Money and Its Long Run Implications: Empirical Evidence from Nigeria," MPRA Paper 49598, University Library of Munich, Germany.
    5. Kuek, Tai Hock, 2016. "A Review of Literature on Monetary Neutrality - The case of India," MPRA Paper 71962, University Library of Munich, Germany, revised 13 Jun 2016.
    6. repec:ebl:ecbull:v:5:y:2006:i:2:p:1-6 is not listed on IDEAS
    7. Santosh Kumar Dash, 2017. "Is Money Supply Exogenous? Evidence from India," Margin: The Journal of Applied Economic Research, National Council of Applied Economic Research, vol. 11(2), pages 167-195, May.
    8. Simplice Asongu, 2014. "How Would Monetary Policy Matter In The Proposed African Monetary Unions? Evidence From Output And Prices," The African Finance Journal, Africagrowth Institute, vol. 16(2), pages 34-63.
    9. Asongu, Simplice A., 2014. "A note on the long-run neutrality of monetary policy: new empirics," European Economic Letters, European Economics Letters Group, vol. 3(1), pages 1-6.
    10. Simplice Asongu, 2016. "New empirics of monetary policy dynamics: evidence from the CFA franc zones," African Journal of Economic and Management Studies, Emerald Group Publishing Limited, vol. 7(2), pages 164-204, June.
    11. Ashra, Sunil & Chattopadhyay, Saumen & Chaudhuri, Kausik, 2004. "Deficit, money and price: the Indian experience," Journal of Policy Modeling, Elsevier, vol. 26(3), pages 289-299, April.
    12. Rasool, Haroon & Adil, Masudul Hasan & Tarique, Md, 2018. "An Empirical Evidence of Dynamic Interaction among price level, interest rate, money supply and real income: The case of the Indian Economy," MPRA Paper 87452, University Library of Munich, Germany.
    13. Chin-Hong PUAH,* & Muzafar Shah HABIBULLAH** & Shazali Abu MANSOR*, 2002. "Some Empirical Evidence On The Quantity Theoretic Proposition Of Money In Asean-5," Pakistan Journal of Applied Economics, Applied Economics Research Centre, vol. 18, pages 31-47.
    14. Khundrakpam, Jeevan K. & Goyal, Rajan, 2009. "Is the Government Deficit in India Still Relevant for Stabilisation?," MPRA Paper 50905, University Library of Munich, Germany.
    15. Wong, Soon-Ming & Loi, Siew-Ling, 2016. "Money Influence on Real Economy Activity: Evidences Review on Japanese Context," MPRA Paper 73559, University Library of Munich, Germany.
    16. Jamie Emerson, 2006. "The Quantity Theory of Money: Evidence from the United States," Economics Bulletin, AccessEcon, vol. 5(2), pages 1-6.

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