MONETARY IMPACTS ON PRICES IN THE SHORT AND LONG RUN: FURTHER RESULTS FOR THE UNITED STATES

Young Chan Choe and Won W. Koo

Journal of Agricultural and Resource Economics, 1993, vol. 18, issue 2, 14

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.

Keywords: Demand; and; Price; Analysis (search for similar items in EconPapers)
Date: 1993
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Persistent link: https://EconPapers.repec.org/RePEc:ags:jlaare:30957

DOI: 10.22004/ag.econ.30957

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