Empirical Evidence on the Long-Run Neutrality Hypothesis Using Divisia Money

Tang, Maggie May-Jean and Puah, Chin Hong and Dayang-Affizzah, A.M. (2013) Empirical Evidence on the Long-Run Neutrality Hypothesis Using Divisia Money. Journal of Academy of Business and Economics. ISSN 1542-8710

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Official URL: https://mpra.ub.uni-muenchen.de/50020/

Abstract

By employing Fisher and Seater’s (1993) long-run neutrality test, the researchers tested the monetary neutrality proposition in Singapore for the period of 1980-2009. Empirical findings show that monetary neutrality does not hold in Singapore when both the simple-sum money and Divisia money are employed. As both the simple-sum and Divisia monetary aggregates are non-neutral, monetary authorities may consider their use as a monetary policy tool affecting real economic activity.

Item Type: Article
Uncontrolled Keywords: Monetary Neutrality, Divisia Money, ARIMA Model, unimas, university, universiti, Borneo, Malaysia, Sarawak, Kuching, Samarahan, ipta, education, research, Universiti Malaysia Sarawak
Subjects: H Social Sciences > H Social Sciences (General)
Divisions: Academic Faculties, Institutes and Centres > Faculty of Economics and Business
Depositing User: Ab Rahim
Date Deposited: 06 Oct 2017 01:56
Last Modified: 06 Oct 2017 01:56
URI: http://ir.unimas.my/id/eprint/18016

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