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dc.contributor.authorCongregado, Emilio
dc.contributor.authorEsteve, Vicente
dc.date.accessioned2021-09-01T13:14:48Z
dc.date.available2021-09-01T13:14:48Z
dc.date.issued2021-06
dc.identifier.bibliographicCitationDocumentos de trabajo. IAES-Instituto Universitario de Análisis Económico y Social, Universidad de Alcalá, N. 06, 2021. ISSN 2172-7856es_ES
dc.identifier.issn2172-7856
dc.identifier.urihttp://hdl.handle.net/10017/49287en
dc.description33 p.es_ES
dc.description.abstractIn this article, we test a classical model of ináation with rational expectations for the case of Spain during the period 1830ñ1998. The principal testable implication is that money growth and ináation are cointegrated ruling out speculative bubbles. First, to detect episodes of potential explosive behaviour in the Spanish ináation rate, we use the recursive unit root tests for explosiveness recently proposed by Phillips, Wu, and Yu (2011), and Phillips, Shi, and Yu (2015a,b). Second, we consider the possibility that a linear cointegrated regression model with multiple structural changes would provide a good empirical description of the classical model of ináation for Spain over this long period. Our methodology is based on the instability tests recently proposed in Kejriwal and Perron (2008, 2010) as well as the cointegration tests developed in Arai and Kurozumi (2007) and Kejriwal (2008).en
dc.format.mimetypeapplication/pdfen
dc.language.isoengen
dc.publisherUniversidad de Alcalá. Instituto Universitario de Análisis Económico y Sociales_ES
dc.relation.ispartofseriesDocumentos de trabajo. IAES-Instituto Universitario de Análisis Económico y Social, Universidad de Alcaláes_ES
dc.relation.ispartofseries06
dc.rightsAttribution-NonCommercial-NoDerivatives 4.0 Internacionalen
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/*
dc.subjectInáationen
dc.subjectExplosivenessen
dc.subjectCointegrationen
dc.subjectMultiple structural breaksen
dc.subjectClassical model of ináationen
dc.subjectMoney demanden
dc.subjectMoney growthen
dc.titleLong-run neutrality of money and inflation in Spanish economy, 1830-1998en
dc.typeinfo:eu-repo/semantics/workingPaperen
dc.subject.ecienciaEconomíaes_ES
dc.subject.ecienciaEconomicsen
dc.subject.ecienciaSociologíaes_ES
dc.subject.ecienciaSociologyen
dc.contributor.affiliationUniversidad de Alcalá. Instituto Universitario de Análisis Económico y Social (IAES)es_ES
dc.type.versioninfo:eu-repo/semantics/publishedVersionen
dc.rights.accessRightsinfo:eu-repo/semantics/openAccessen


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Attribution-NonCommercial-NoDerivatives 4.0 Internacional
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