Since 2014
IS LONG-RUN MONETARY NEUTRAL? EVIDENCE FROM INDONESIA
Economic Journal of Emerging Markets
View Archive Info| Field | Value | |
| Title |
IS LONG-RUN MONETARY NEUTRAL? EVIDENCE FROM INDONESIA
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| Creator |
Arintoko, Arintoko; Universitas Jenderal Soedirman
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| Subject |
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Monetary neutrality, unit root, exogeneity, government injections of money C32, E13, E41, E51 |
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| Description |
This paper examines the long-run monetary neutrality in Indonesia, mainly using annual time-series during 1970-2007. It uses Fisher-Seater methodology to analyze the research problems. Particular attention is given to integration, exogeneity, and cointegration properties of the money stock and real output. Unit-root, causality, and cointegration tests are used to identify these properties. The empirical results provide evidence to reject the long-run neutrality of money (both M1 and M2) with respect to real GDP, showing that it is inconsistent with the classical and neoclassical economics. In particular, government injections of money have long-run positive effect on real output in macroeconomy.
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| Publisher |
Universitas Islam Indonesia
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| Contributor |
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| Date |
2011-09-27
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion Peer-reviewed Article — |
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| Format |
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| Identifier |
http://journal.uii.ac.id/index.php/JEP/article/view/6422
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| Source |
Economic Journal of Emerging Markets; Volume 1 Issue 3, 2009; 197-214
2502-180X 2086-3128 |
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| Language |
eng
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| Relation |
http://journal.uii.ac.id/index.php/JEP/article/view/6422/5780
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| Coverage |
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| Rights |
Copyright (c) 2016 Economic Journal of Emerging Markets
http://creativecommons.org/licenses/by-sa/4.0 |
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