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On the cointegration of money, credit, prices, and real GDP.

Publication: International Advances in Economic Research
Publication Date: 01-MAY-08 		Format: Online
Delivery: Immediate Online Access
Full Article Title: On the cointegration of money, credit, prices, and real GDP.(RESEARCH NOTE)

Article Excerpt
JEL C10.E00.E40.E50

While some (Friedman and Kuttner, American Economic Review, 1992) address whether money and credit separately are cointegrated with other variables, the current study finds that the natural logs of Ml, domestic nonfinancial debt (DNFD), real GDP, and the implicit deflator together are cointegrated. Both maximum eigenvalue and trace test statistic results show cointegration for annual and quarterly...

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