Monetary non-neutrality: Theory and empirical research in China

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 t...

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Bibliographic Details
Published inThe 2nd International Conference on Information Science and Engineering pp. 5931 - 5934
Main Authors Hui Peng, Jinqi Jiang
Format Conference Proceeding
LanguageChinese
English
Published IEEE 01.12.2010
Subjects
Analytical models
Biological system modeling
co-integration analysis
Economics
Educational institutions
Granger Causality Test
Industries
Monetary Non-neutrality
Presses
pulse analysis
Time series analysis
VAR model
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Summary: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.
ISBN:142447616X
9781424476169
ISSN:2160-1283
DOI:10.1109/ICISE.2010.5691054