We found a match
Your institution may have access to this item. Find your institution then sign in to continue.
- Title
DOES MONEY MATTER IN THE IS CURVE? THE CASE OF THE UK.
- Authors
JONES, BARRY E.; STRACCA, LIVIO
- Abstract
Narrow and broad money measures (including Divisia aggregates) have been found to have explanatory power for UK output in backward-looking specifications of the IS curve. In this paper, we explore whether or not real balances enter into a forward-looking IS curve for the UK. To do this, we test for additive separability between consumption and money over a sizeable part of the post-Exchange Rate Mechanism period using non-parametric methods. A main finding is that the UK data seem to be broadly consistent with additive separability for the more recent period from 1999 to 2007.
- Subjects
UNITED Kingdom; FOREIGN exchange rates; CONSUMPTION (Economics); MONETARY policy; FOREIGN exchange; DATA analysis; METHODOLOGY; ECONOMIC demand; ECONOMICS
- Publication
Manchester School (1463-6786), 2008, Vol 76, p58
- ISSN
1463-6786
- Publication type
Article
- DOI
10.1111/j.1467-9957.2008.01081.x