Title

Monetary Variability and Real Output

Document Type

Article

Publication Date

1993

Publication Source

Economics Letters

Abstract

Utilizing Engel's (Econometrica, 1982, 50, 987–1008) autoregressive conditional heteroskedasticity (ARCH) model to consistently parameterize the conditional variance of money growth, I find an inverse relationship between monetary variability and real output. This provides some additional evidence in favor of Friedman's (Journal of Political Economy, 1977, 85, 451–472) famous conjecture.

Inclusive pages

219-222

ISBN/ISSN

0165-1765

Publisher

Elsevier

Volume

42

Issue

2-3

Peer Reviewed

yes