不同汇率制度下是否存在长期货币中性?

Wiley-Blackwell: Pacific Economic Review Pub Date : 2005-10-01 DOI:10.1111/J.1468-0106.2005.00278.X

J. Ran

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引用次数: 5

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Is There Long-Run Money Neutrality Under Different Exchange Rate Regimes?

This paper tests the long-run money neutrality across different exchange rate regimes, empirically extending the concept of M. E. Fisher and J. J. Seater. Strong evidence shows the non-neutrality of two forms of money for the Hong Kong economy across the two regimes. While the Hong Kong M1 is marginally non-neutral under the float, it is clearly not neutral afterwards. The M2 is non-neutral both before and after the linked exchange rate. Copyright 2005 Blackwell Publishing Ltd

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Wiley-Blackwell: Pacific Economic Review

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