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

页码：397 / 411

页数：15

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