On the long-run monetary neutrality : evidence from the SEACEN countries.

Citation

Puah, Chin Hong and Habibullah, Muzafar Shah and Abu Mansor, Shazali (2008) On the long-run monetary neutrality : evidence from the SEACEN countries. Journal of Money, Investment and Banking, - (2). pp. 50-62. ISSN 1986-4094

Abstract

This paper tests the long run neutrality (LRN) and long run super neutrality (LRSN) propositions using annual observation from 10 member countries of the South East Asian Central Banks (SEACEN) Research and Training Centre. The Fisher and Seater (1993) methodology is applied to do the task. Special attention has been given in identifying the number of unit root and cointegrating vector, as a meaningful LRN (LRSN) test is critically depends on such properties. Empirical results reveal that LRN can be deviated from the case of Asian developing economies. In particular, monetary expansion seems to have long run positive effect on real output in the economies of Indonesia, Taiwan and Thailand. However, LRSN is neither fail or not addressable in our study.

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Additional Metadata

Item Type:	Article
Divisions:	Faculty of Economics and Management
Publisher:	EuroJournals
Keywords:	Neutrality and superneutrality of money; Sequential unit root test; SEACEN.
Depositing User:	Emelda Mohd Hamid
Date Deposited:	15 Nov 2013 10:51
Last Modified:	28 Oct 2015 23:42
URI:	http://psasir.upm.edu.my/id/eprint/15919
Statistic Details:	View Download Statistic

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