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Is Money Neutral? Some Evidence for Italy

Author

Listed:
  • Gianluca Cubadda

    (Universita di Roma)

  • Domenico Mignacca

    (Universita di Ancona)

Abstract

The aim of this paper is to verify the hypothesis of money neutrality in the Italian experience. After a critical overview of the traditional techniques employed to verify this hypothesis, cointegration technique is used to verify: long-run neutrality, weak evidence of long-run superneutrality but absence of hyperneutrality. The absence of hyperneutrality implies that an acceleration of the growth rate of money affects real output.

Suggested Citation

  • Gianluca Cubadda & Domenico Mignacca, 1994. "Is Money Neutral? Some Evidence for Italy," International Finance 9410001, University Library of Munich, Germany, revised 09 Nov 1994.
    • Handle: RePEc:wpa:wuwpif:9410001
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    References listed on IDEAS

    as
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    JEL classification:

    • F3 - International Economics - - International Finance
    • F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance

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