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dc.contributor.authorHayo, Bernden_US
dc.date.accessioned2010-09-01T09:48:31Z-
dc.date.available2010-09-01T09:48:31Z-
dc.date.issued1998en_US
dc.identifier.urihttp://hdl.handle.net/10419/39602-
dc.description.abstractIn this paper, the evidence collected in the large literature on testing for Granger-causality from money to output is revisited. Using a broad data base of 14 EU-countries plus Canada, the US and Japan, and quarterly data from the mid 60s to the mid 90s, a number of hypotheses from this literature is evaluated. It is found that very few general conclusions can be sustained. For instance, in most countries it is not the case that the use of data in levels creates a bias in favour of finding Granger-causality effects of money on output compared to using differences. Neither does the significance of money lags decline when increasing the number of variables included in the model. What appears to be robust, though, is that allowing for asymmetries clearly increases the likelihood of finding significant causality effects. Based on the Grangercausality test results, a number of country groups are obtained using cluster analysis, which are characterised by a similar behaviour with respect to the money-output relation.-
dc.language.isoengen_US
dc.publisherZEI Bonnen_US
dc.relation.ispartofseriesZEI working paper B 08-1998en_US
dc.subject.jelE40-
dc.subject.jelE50-
dc.subject.ddc330en_US
dc.subject.keywordMoney-Output Causality-
dc.subject.keywordGranger Causality-
dc.subject.keywordEU countries-
dc.titleMoney-output Granger causality revisited: An empirical analysis of EU countriesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn265044545en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:zeiwps:B081998-
Appears in Collections:ZEI Working Papers, Zentrum für Europäische Integrationsforschung, Universität Bonn

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