Exchange Rates, Prices and Money. A Long Run Perspective

Preprint
Publisher Website
Google Scholar
  • 1 January 2001
    • preprint
      • Published in RePEc
Abstract
In this paper we analyse the long-run proportionality and neutrality propositions between inflation and money growth and between exchange rate changes and money growth. Using a sample of 100 countries over a thirty-year period we find that the evidence in favour of these propositions is weak for the low inflation countries and very strong for the high inflation countries. We propose an explanation based on productivity shocks and transaction costs. Copyright @ 2001 by John Wiley & Sons, Ltd. All rights reserved. (This abstract was borrowed from another version of this item.)
All Related Versions

This publication has 0 references indexed in Scilit: