통화의 장기 중립성에 관한 연구

• 영문명: Long-run Neutrality in Korea
• 발행기관: 한국경제연구원
• 저자명: 배상근(Sang-Kun Bae)
• 간행물 정보: 『규제연구』제11권 2호, 11~89쪽, 전체 79쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2002.06.01

영문 초록

The objective in this paper is to investigate Issues of long-run neutrality and long-run superneutrality for Korea using Fisher and Seater (1993) model and to analyze effectiveness of money as an information variable under the Korean monetary policy framework. It is found that money is long-run neutral and that the long-run superneutrality of the narrowly defined money can not be rejected. However, broader-based measures of the money stock such as M3 are not long-run superneutral. This finding suggests that money is long-run neutral within the Fisher and Seater (1993) framework. Also, the introduction of dummy variables to capture recent extraperiod, the Korean financial crisis, does not change the findings. Thus, since the money stocks have proportional relationships to both price and nominal output from the long-run viewpoint, long-run effectiveness of monetary index, which a role as policy index recently weakened, has been remained.

목차

제1장 서론

제2장 통화의 장기 중립성 검증에 대한 문헌연구

제3장 분석방법 및 통계자료

제4장 통화의 장기 중립성 및 장기 초중립성에 대한 실증분석

제5장 요약 및 정책적 시사점

참고문헌

Abstract