MONETARY IMPACTS ON PRICES IN THE SHORT AND LONG RUN: FURTHER RESULTS FOR THE UNITED STATES
Journal of Agricultural and Resource Economics · Volume 18, Issue 2, December 1993 · Pages 211–224
Abstract
This study examines the long-run neutrality of money and the short-run dynamics of farm and nonfarm prices to the monetary shock, using Johansen’s approach. Results find a long-run equality of prices, but not neutrality. In the short-run, farm prices adjust faster than nonfarm prices to a monetary shock.
Article details
- Issue
- Volume 18, Issue 2
- Published
- December 1993
- Pages
- 211–224
- Full text
- PDF on AgEcon Search