Business, Management and Accounting
4 years ago

Nonlinear relationship between money and output challenges economic forecasting models.

1 view
Report / Econometric Institute, Erasmus University Rotterdam
A multivariate STAR analysis of the relationship between money and output
Phil Rothman, Dick van Dijk, Philip Hans Franses

Paper Summary

The researchers found that there is a non-linear relationship between money and output. They used a special model to show that changes in the growth rate of money affect the relationship between money and output. However, their analysis did not find strong evidence that changes in money directly cause changes in output.

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