Title :
Monetary non-neutrality: Theory and empirical research in China
Author :
Peng, Hui ; Jiang, Jinqi
Author_Institution :
College of Economy and Management, Shenyang Ligong University, China
Abstract :
Based on the data from 1978 to 2009, this paper selects variables such as money supply, real GDP and CPI as well as builds time series to prove that quantity of money has a certain impact on both the actual output and the nominal price level, while the impact of the former is stronger than that of the latter. All of the above analyzes are based on co-integration analysis, Granger Causality Test, VAR model and pulse analysis. In the end, we can reach the conclusion that Chinese currency appears non-neutral in the long run.
Keywords :
Analytical models; Biological system modeling; Economics; Educational institutions; Industries; Presses; Time series analysis; Granger Causality Test; Monetary Non-neutrality; VAR model; co-integration analysis; pulse analysis;
Conference_Titel :
Information Science and Engineering (ICISE), 2010 2nd International Conference on
Conference_Location :
Hangzhou, China
Print_ISBN :
978-1-4244-7616-9
DOI :
10.1109/ICISE.2010.5691054
