Is there long-run money neutrality under different exchange rate regimes?

Jimmy RAN

Research output: Journal PublicationsJournal Article (refereed)

1 Scopus Citations

Abstract

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.
Original languageEnglish
Pages (from-to)361-370
Number of pages10
JournalPacific Economic Review
Volume10
Issue number3
DOIs
Publication statusPublished - 1 Oct 2005

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Hong Kong
Money neutrality
Exchange rate regimes
Float
Exchange rates

Cite this

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Is there long-run money neutrality under different exchange rate regimes? / RAN, Jimmy.

In: Pacific Economic Review, Vol. 10, No. 3, 01.10.2005, p. 361-370.

Research output: Journal PublicationsJournal Article (refereed)

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