Money and Output: A Test of Reverse Causation
Publication
, Journal Article
Coleman, WJ
Published in: American Economic Review
March 1, 1996
This paper attempts to explain the correlation between money and output at various leads and lags with a model in which money is largely neutral and endogenously responds to output. Money is endogenous because both monetary policy and deposit creation are endogenous. Parameters are selected according to the simulated moments estimation technique. While the estimated model succeeds along some dimensions in matching properties of postwar U.S. data, its failure to match key patterns of lead-lag correlations seems to cast doubt on the ability of endogenous money determination, by itself, to quantitatively account for the observed money-output correlations.
Duke Scholars
Published In
American Economic Review
ISSN
0002-8282
Publication Date
March 1, 1996
Volume
86
Issue
1
Start / End Page
90 / 111
Related Subject Headings
- Economics
- 38 Economics
- 35 Commerce, management, tourism and services
- 15 Commerce, Management, Tourism and Services
- 14 Economics
Citation
APA
Chicago
ICMJE
MLA
NLM
Coleman, W. J. (1996). Money and Output: A Test of Reverse Causation. American Economic Review, 86(1), 90–111.
Coleman, W. J. “Money and Output: A Test of Reverse Causation.” American Economic Review 86, no. 1 (March 1, 1996): 90–111.
Coleman WJ. Money and Output: A Test of Reverse Causation. American Economic Review. 1996 Mar 1;86(1):90–111.
Coleman, W. J. “Money and Output: A Test of Reverse Causation.” American Economic Review, vol. 86, no. 1, Mar. 1996, pp. 90–111.
Coleman WJ. Money and Output: A Test of Reverse Causation. American Economic Review. 1996 Mar 1;86(1):90–111.
Published In
American Economic Review
ISSN
0002-8282
Publication Date
March 1, 1996
Volume
86
Issue
1
Start / End Page
90 / 111
Related Subject Headings
- Economics
- 38 Economics
- 35 Commerce, management, tourism and services
- 15 Commerce, Management, Tourism and Services
- 14 Economics