Template-type: ReDIF-Article 1.0
Author-Name: Juncal Cuñado
Author-X-Name-First: Juncal
Author-X-Name-Last: Cuñado
Author-Workplace-Name: Universidad de Navarra
Author-Workplace-Homepage: http://www.unav.es/facultad/econom/
Author-Name: Luis Gil-Alana
Author-X-Name-First: Luis
Author-X-Name-Last: Gil-Alana
Author-Workplace-Name: Universidad de Navarra
Author-Workplace-Homepage: http://www.unav.es/facultad/econom/
Author-Name: Fernando Pérez de Gracia
Author-X-Name-First: Fernando
Author-X-Name-Last: Pérez de Gracia
Author-Workplace-Name: Universidad de Navarra
Author-Workplace-Homepage: http://www.unav.es/facultad/econom/
Title: New evidence on long-run monetary neutrality
Abstract: This paper re-examines the issue of long-run monetary neutrality by using fractional integration
	and allowing for a possible structural break in six countries: the United States, the United
	Kingdom, Mexico, Brazil, Australia and Argentina. We use an extension of Fisher and Seater’s
	(1993) reduced-form test recently proposed by Bae, Jensen and Murdock (2005). The results
	show that long-run monetary neutrality holds for five countries when no structural breaks
Classification-JEL: E40, E51, C32
Keywords: money neutrality, long memory, structural breaks
Journal: Journal of Applied Economics
Note:
Pages: 229-248
Number: 2
Volume: 12
Year: 2009
Month: November
File-URL: http://www.sciencedirect.com/science/journal/15140326/12/2
File-Format: application/pdf
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Handle: RePEc:cem:jaecon:v:12:y:2009:n:2:p:229-248