Verfügbarkeit: Output Fluctuations and Monetary Shocks

Output Fluctuations and Monetary Shocks: Evidence From Colombia

Using annual data for Colombia over the last thirty years and a new battery of econometric techniques, we test opposing theories that explain macroeconomic fluctuations: The neoclassical synthesis, which posits that, in the presence of temporary price rigidity, an unanticipated monetary expansion pr...

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1. Verfasser:	Reinhart, Vincent (VerfasserIn)
Format:	Elektronisch E-Book
Sprache:	English
Veröffentlicht:	Washington, D.C International Monetary Fund 1991
Schriftenreihe:	IMF Working Papers Working Paper No. 91/35
Online-Zugang:	UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext
Zusammenfassung:	Using annual data for Colombia over the last thirty years and a new battery of econometric techniques, we test opposing theories that explain macroeconomic fluctuations: The neoclassical synthesis, which posits that, in the presence of temporary price rigidity, an unanticipated monetary expansion produces output gains that erode over time with increases in the price level; and an alternative explanation, which focuses on "real" technological or preference shocks as the sources of output changes. The coefficients from these systems are used to examine two basic propositions: the long-run neutrality of nominal quantities with respect to permanent movements in the money stock; and the short-run sensitivity of output to inflation
Beschreibung:	1 Online-Ressource (34 p)
ISBN:	1451978359 9781451978353

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spelling	Reinhart, Vincent Verfasser aut Output Fluctuations and Monetary Shocks Evidence From Colombia Reinhart, Vincent Washington, D.C International Monetary Fund 1991 1 Online-Ressource (34 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 91/35 Using annual data for Colombia over the last thirty years and a new battery of econometric techniques, we test opposing theories that explain macroeconomic fluctuations: The neoclassical synthesis, which posits that, in the presence of temporary price rigidity, an unanticipated monetary expansion produces output gains that erode over time with increases in the price level; and an alternative explanation, which focuses on "real" technological or preference shocks as the sources of output changes. The coefficients from these systems are used to examine two basic propositions: the long-run neutrality of nominal quantities with respect to permanent movements in the money stock; and the short-run sensitivity of output to inflation Online-Ausg Reinhart, Carmen Sonstige oth http://elibrary.imf.org/view/IMF001/05069-9781451978353/05069-9781451978353/05069-9781451978353.xml Verlag URL des Erstveröffentlichers Volltext
spellingShingle	Reinhart, Vincent Output Fluctuations and Monetary Shocks Evidence From Colombia
title	Output Fluctuations and Monetary Shocks Evidence From Colombia
title_auth	Output Fluctuations and Monetary Shocks Evidence From Colombia
title_exact_search	Output Fluctuations and Monetary Shocks Evidence From Colombia
title_exact_search_txtP	Output Fluctuations and Monetary Shocks Evidence From Colombia
title_full	Output Fluctuations and Monetary Shocks Evidence From Colombia Reinhart, Vincent
title_fullStr	Output Fluctuations and Monetary Shocks Evidence From Colombia Reinhart, Vincent
title_full_unstemmed	Output Fluctuations and Monetary Shocks Evidence From Colombia Reinhart, Vincent
title_short	Output Fluctuations and Monetary Shocks
title_sort	output fluctuations and monetary shocks evidence from colombia
title_sub	Evidence From Colombia
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