메뉴 건너뛰기




Volumn 26, Issue 7, 2007, Pages 1174-1186

Why U.S. money does not cause U.S. output, but does cause Hong Kong output

Author keywords

Causality; Monetary policy; U.S. federal funds rate; U.S. money; VECM

Indexed keywords


EID: 34548315931     PISSN: 02615606     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.jimonfin.2007.06.001     Document Type: Article
Times cited : (12)

References (24)
  • 1
    • 21844492102 scopus 로고
    • The macroeconomics of the great depression: a comparative approach
    • Bernanke B.S. The macroeconomics of the great depression: a comparative approach. Journal of Money, Credit and Banking 17 1 (1995) 1-28
    • (1995) Journal of Money, Credit and Banking , vol.17 , Issue.1 , pp. 1-28
    • Bernanke, B.S.1
  • 2
    • 0001397560 scopus 로고
    • Pitfalls and opportunities: what macroeconomist should know about unit roots
    • Blanchard O.J., and Fischer S. (Eds)
    • Campbell J.Y., and Perron P. Pitfalls and opportunities: what macroeconomist should know about unit roots. In: Blanchard O.J., and Fischer S. (Eds). NBER Macroeconomics Annual vol. 6 (1991) 141-201
    • (1991) NBER Macroeconomics Annual , vol.6 , pp. 141-201
    • Campbell, J.Y.1    Perron, P.2
  • 3
    • 0001383968 scopus 로고
    • The exchange rate and the international transmission of business cycle disturbances: some evidence from the great depression
    • Choudhri E.U., and Kochin L.A. The exchange rate and the international transmission of business cycle disturbances: some evidence from the great depression. Journal of Money, Credit and Banking 12 (1980) 565-574
    • (1980) Journal of Money, Credit and Banking , vol.12 , pp. 565-574
    • Choudhri, E.U.1    Kochin, L.A.2
  • 4
    • 70449089152 scopus 로고    scopus 로고
    • Monetary policy shocks: what have we learned and to what end?
    • Taylor J.B., and Woodford M. (Eds), Elsevier, Amsterdam
    • Christiano L.J., Eichenbaum M., and Evans Ch.L. Monetary policy shocks: what have we learned and to what end?. In: Taylor J.B., and Woodford M. (Eds). Handbook of Macroeconomics vol. 1A (1999), Elsevier, Amsterdam
    • (1999) Handbook of Macroeconomics , vol.1 A
    • Christiano, L.J.1    Eichenbaum, M.2    Evans, Ch.L.3
  • 5
    • 85036258669 scopus 로고
    • Distribution of the estimator for autoregressive time series with a unit root
    • Dickey D.A., and Fuller W.A. Distribution of the estimator for autoregressive time series with a unit root. Journal of the American Statistical Association 74 (1979) 427-431
    • (1979) Journal of the American Statistical Association , vol.74 , pp. 427-431
    • Dickey, D.A.1    Fuller, W.A.2
  • 6
    • 34548323425 scopus 로고
    • Central bank cooperation under the interwar gold standard
    • Eichengreen B. Central bank cooperation under the interwar gold standard. Explorations in Economic History 21 (1984) 64-87
    • (1984) Explorations in Economic History , vol.21 , pp. 64-87
    • Eichengreen, B.1
  • 7
    • 0031510344 scopus 로고    scopus 로고
    • When do long-run identifying restrictions give reliable results?
    • Faust J., and Leeper E.M. When do long-run identifying restrictions give reliable results?. Journal of Business and Economics Statistics 15 3 (1997) 345-353
    • (1997) Journal of Business and Economics Statistics , vol.15 , Issue.3 , pp. 345-353
    • Faust, J.1    Leeper, E.M.2
  • 8
    • 84982518911 scopus 로고
    • The role of the international gold standard in propagating the great depression
    • Hamilton J.D. The role of the international gold standard in propagating the great depression. Contemporary Policy Issues 6 (1988) 67-89
    • (1988) Contemporary Policy Issues , vol.6 , pp. 67-89
    • Hamilton, J.D.1
  • 9
    • 0032753268 scopus 로고    scopus 로고
    • Money-output Granger causality revisited. An empirical analysis of EU countries
    • Hayo B. Money-output Granger causality revisited. An empirical analysis of EU countries. Applied Economics 31 11 (1999) 1489-1501
    • (1999) Applied Economics , vol.31 , Issue.11 , pp. 1489-1501
    • Hayo, B.1
  • 11
    • 0000158117 scopus 로고
    • Estimation and hypothesis testing of cointegration vectors in Gaussian vector autoregressive models
    • Johansen S. Estimation and hypothesis testing of cointegration vectors in Gaussian vector autoregressive models. Econometrica 59 (1991) 1551-1580
    • (1991) Econometrica , vol.59 , pp. 1551-1580
    • Johansen, S.1
  • 13
    • 84981579311 scopus 로고
    • Maximum likelihood estimation and inference on cointegration - with applications to the demand for money
    • Johansen S., and Juselius K. Maximum likelihood estimation and inference on cointegration - with applications to the demand for money. Oxford Bulletin of Economics and Statistics 52 (1990) 169-210
    • (1990) Oxford Bulletin of Economics and Statistics , vol.52 , pp. 169-210
    • Johansen, S.1    Juselius, K.2
  • 14
    • 44049117018 scopus 로고
    • Testing structural hypothesis in a multivariate cointegration analysis of the PPP and the UIP for UK
    • Johansen S., and Juselius K. Testing structural hypothesis in a multivariate cointegration analysis of the PPP and the UIP for UK. Journal of Econometrics 53 (1992) 211-244
    • (1992) Journal of Econometrics , vol.53 , pp. 211-244
    • Johansen, S.1    Juselius, K.2
  • 15
    • 0032708091 scopus 로고    scopus 로고
    • Causality tests of budget and current account deficits: cross-country comparison
    • Khalid A., and Guan D. Causality tests of budget and current account deficits: cross-country comparison. Empirical Economics 24 (1999) 389-402
    • (1999) Empirical Economics , vol.24 , pp. 389-402
    • Khalid, A.1    Guan, D.2
  • 17
    • 0000631178 scopus 로고
    • A note with fractiles of the asymptotic distribution of the maximum likelihood cointegration rank test statistics: four cases
    • Osterwald-Lenum M. A note with fractiles of the asymptotic distribution of the maximum likelihood cointegration rank test statistics: four cases. Oxford Bulletin of Economics and Statistics 54 (1992) 461-472
    • (1992) Oxford Bulletin of Economics and Statistics , vol.54 , pp. 461-472
    • Osterwald-Lenum, M.1
  • 19
    • 84947516512 scopus 로고
    • Vector autoregression and causality: a theoretical overview and simulation study
    • Phillips P.C.B., and Toda H.Y. Vector autoregression and causality: a theoretical overview and simulation study. Econometric Reviews 13 2 (1994) 259-285
    • (1994) Econometric Reviews , vol.13 , Issue.2 , pp. 259-285
    • Phillips, P.C.B.1    Toda, H.Y.2
  • 20
    • 0000336162 scopus 로고
    • Comparisons of tests for multivariate cointegration
    • Reimers H.E. Comparisons of tests for multivariate cointegration. Statistical Papers 33 (1992) 335-359
    • (1992) Statistical Papers , vol.33 , pp. 335-359
    • Reimers, H.E.1
  • 21
    • 0000867933 scopus 로고
    • Does Monetary Policy Matter? A New Test in the Spirit of Friedman and Schwartz
    • MIT Press, Cambridge pp. 121-170
    • Romer C.D., and Romer D.H. Does Monetary Policy Matter? A New Test in the Spirit of Friedman and Schwartz. NBER Macroeconomic Annual 1989 (1989), MIT Press, Cambridge pp. 121-170
    • (1989) NBER Macroeconomic Annual 1989
    • Romer, C.D.1    Romer, D.H.2
  • 22
    • 2142663138 scopus 로고    scopus 로고
    • Identifying policy-makers objectives: an application to the bank of Canada
    • Rowe N., and Yetman J. Identifying policy-makers objectives: an application to the bank of Canada. Canadian Journal of Economics 35 2 (2002) 239-256
    • (2002) Canadian Journal of Economics , vol.35 , Issue.2 , pp. 239-256
    • Rowe, N.1    Yetman, J.2
  • 23
    • 19044371729 scopus 로고
    • Testing for unit roots in autoregressive moving average models of unknown order
    • Said S.E., and Dickey D.A. Testing for unit roots in autoregressive moving average models of unknown order. Biometrika 71 (1984) 599-608
    • (1984) Biometrika , vol.71 , pp. 599-608
    • Said, S.E.1    Dickey, D.A.2
  • 24
    • 0034024464 scopus 로고    scopus 로고
    • Cointegration and causality in the exports-GDP Nexus: post-war evidence for Canada
    • Wernerheim C.M. Cointegration and causality in the exports-GDP Nexus: post-war evidence for Canada. Empirical Economics 25 (2000) 111-125
    • (2000) Empirical Economics , vol.25 , pp. 111-125
    • Wernerheim, C.M.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.