@techreport{Berger2008Does,
abstract = {In 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.},
address = {Berlin},
author = {Helge Berger and P\"{a}r \"{O}sterholm},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
isbn = {3938369787},
keywords = {E47; E52; C53; C32; 330; Bayesian VAR; out-of-sample forecasting; granger causality; money; output; federal reserve; Volcker; Geldpolitik; Geldmenge; Gesamtwirtschaftliche Produktion; Konjunktur; VAR-Modell; Kausalanalyse; Sch\"{a}tzung; USA},
language = {eng},
number = {2008/7},
publisher = {Freie Univ., Fachbereich Wirtschaftswiss.},
title = {Does money still matter for U.S. output?},
type = {Diskussionsbeitr\"{a}ge des Fachbereichs Wirtschaftswissenschaft der Freien Universit\"{a}t Berlin},
url = {http://hdl.handle.net/10419/28073},
year = {2008}
}
