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http://hdl.handle.net/10419/28073
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| Title: | | Does money still matter for U.S. output?  |
| Authors: | | Berger, Helge Österholm, Pär |
| Issue Date: | | 2008 |
| Series/Report no.: | | Diskussionsbeiträge des Fachbereichs Wirtschaftswissenschaft der Freien Universität Berlin 2008/7 |
| 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. |
| Subjects: | | Bayesian VAR out-of-sample forecasting granger causality money output federal reserve Volcker |
| JEL: | | E47 E52 C53 C32 |
| ISBN: | | 3938369787 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Diskussionsbeiträge, FB Wirtschaftswissenschaft, FU Berlin
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