TY - JOUR
T1 - Is there long-run money neutrality under different exchange rate regimes?
AU - RAN, Jimmy
PY - 2005/10/1
Y1 - 2005/10/1
N2 - This paper tests the long-run money neutrality across different exchange rate regimes, empirically extending the concept of M. E. Fisher and J. J. Seater. Strong evidence shows the non-neutrality of two forms of money for the Hong Kong economy across the two regimes. While the Hong Kong M1 is marginally non-neutral under the float, it is clearly not neutral afterwards. The M2 is non-neutral both before and after the linked exchange rate.
AB - This paper tests the long-run money neutrality across different exchange rate regimes, empirically extending the concept of M. E. Fisher and J. J. Seater. Strong evidence shows the non-neutrality of two forms of money for the Hong Kong economy across the two regimes. While the Hong Kong M1 is marginally non-neutral under the float, it is clearly not neutral afterwards. The M2 is non-neutral both before and after the linked exchange rate.
UR - http://commons.ln.edu.hk/sw_master/2307
UR - http://www.scopus.com/inward/record.url?scp=29144436460&partnerID=8YFLogxK
U2 - 10.1111/j.1468-0106.2005.00278.x
DO - 10.1111/j.1468-0106.2005.00278.x
M3 - Journal Article (refereed)
SN - 1361-374X
VL - 10
SP - 361
EP - 370
JO - Pacific Economic Review
JF - Pacific Economic Review
IS - 3
ER -