Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/68076
Authors: 
Aksoy, Yunus
León-Ledesma, Miguel A.
Year of Publication: 
2004
Series/Report no.: 
Department of Economics Discussion Paper, University of Kent 04,09
Abstract: 
In this paper we argue that both statistics and economic theory-based evidence largely indicate the absence of long run relationships between the real output and the most relevant monetary indicator for the U.K. and the U.S short term interest rates. These findings are not only a full sample result, but also valid in most of the subsamples throughout the second half of the 20th century.
Subjects: 
information value
long term relationship
cointegration
bounds tests
JEL: 
E3
E4
E5
Document Type: 
Working Paper

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