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Revista Latinoamericana de Desarrollo Económico
Print version ISSN 2074-4706On-line version ISSN 2309-9038
Abstract
WALLACE, Frederick H.. Long Run Money Neutrality: The Case of Guatemala. rlde [online]. 2005, n.5, pp.127-138. ISSN 2074-4706.
The Fisher and Seater (1993) methodology is used to test for the long run neutrality of money in Guatemala, 1950-2001. Real GDP, real per capita GDP, and the money measures, M1 and M2, are integrated of order one [I(1)]. Given these orders of integration, the Fisher-Seater neutrality test can be applied. The evidence suggests that M1 and M2 are neutral with respect to real GDP. Furthermore, the test indicates that M1, but not M2, is neutral with respect to real per capita GDP as well.