Canadian evidence on long-run neutrality propositions

被引：12
|
作者：
Koustas, Z [1 ]
机构：
[1] Brock Univ, St Catharines, ON L2S 3A1, Canada
来源：
JOURNAL OF MACROECONOMICS | 1998年 / 20卷 / 02期
关键词：
D O I：
10.1016/S0164-0704(98)00065-2
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
The empirical methodology developed by King and Watson (1992) is employed to test the validity of a number of long-run neutrality propositions in the Canadian context. We test for long-run money neutrality, the vertical long-run Phillips curve, and the long-run Fisher relationship using quarterly post-WWII data for the Canadian economy. We find evidence against the last two propositions. The evidence is particularly strong in rejecting the vertical long-run Phillips curve and appears to be consistent with a high degree of hysteresis in the Canadian rate of unemployment.
引用
收藏
页码：397 / 411
页数：15
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