SECTORAL MONEY SUPPLY EFFECTS IN UKRAINE

• Authors: Victor Shevchuk
• Languages of publication: EN

Abstracts

EN

This paper examines the effects of anticipated and unanticipated money supply shocks over the 1999─2013 period across several sectors of the Ukraine’s economy. It is found that the anticipated money supply shock contributes to output growth in agriculture, food processing and machine-building industries, with no impact for the steel industry. Unanticipated money shock is expansionary for the machine-building industry, while being restrictionary for agriculture. In general, our results reject the Monetary Neutrality Hypothesis (MNH).

Keywords

EN

rational expectations; output; anticipated and unanticipated money supply

• Publisher: Katedra Ekonometrii i Statystyki, Szkoła Główna Gospodarstwa Wiejskiego w Warszawie
• Journal: Metody Ilościowe w Badaniach Ekonomicznych
• Year: 2014
• Volume: 15
• Issue: 2
• Pages: 209-222

Dates

published

2014

Contributors

author

Victor Shevchuk

• Institute of Economy, Sociology and Philosophy Cracow University of Technology

References

• Ahmed S. (1993) Does money affect output? Business Review, No. 3, Federal Reserve Bank of Philadelphia, Philadelphia.
• Apergis N., Miller S. (1998) Macroeconomic rationality and Lucas's misperceptions model: Further evidence from forty-one countries, Journal of Economics and Business, Vol. 56, Issue 3, pp. 227241.