On money and output in the Euro area: is money redundant? created by Costas Karfakis,

By:

Karfakis, Costas [author]

Material type: Text

TextSeries: International economic journal ; Volume 27, number 3Abingdon: Taylor and Francis, 2013Content type:

text

Media type:

unmediated

Carrier type:

volume

ISSN:

10168737

Subject(s):

Output gap -- Real money -- Real interest rate, Business cycle, Gross domestic product -- Eurozone

LOC classification:

HB1A1 INT

Online resources:

Click here to access online

Abstract: This paper examines the relationship between money and future movements in output at business-cycle frequencies in the euro area. Importantly, the evidence suggests that the money stock is found to significantly affect output independent of the real interest rate. This finding supports the argument made by Meltzer Citation(2001) that the effects of monetary policy actions on the real economy are not fully captured by the short-term real rate.

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Holdings
Item type	Current library	Call number	Vol info	Copy number	Status	Notes	Date due	Barcode
Journal Article	Main Library - Special Collections	HB1A1 INT (Browse shelf(Opens below))	Vol. 27, no. 3 (pages 487-496)	SP18073	Not for loan	For In house Use

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This paper examines the relationship between money and future movements in output at business-cycle frequencies in the euro area. Importantly, the evidence suggests that the money stock is found to significantly affect output independent of the real interest rate. This finding supports the argument made by Meltzer Citation(2001) that the effects of monetary policy actions on the real economy are not fully captured by the short-term real rate.

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