서지주요정보
합리적 기대가설하의 통화중립성에 대한 실증분석 : 한국의 경우 = Tests of the money neutrality under rational expectations : the case of Korea
서명 / 저자 합리적 기대가설하의 통화중립성에 대한 실증분석 : 한국의 경우 = Tests of the money neutrality under rational expectations : the case of Korea / 김범식.
발행사항 [대전 : 한국과학기술원, 1990].
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8001183

소장위치/청구기호

학술문화관(문화관) 보존서고

MMGS 9005

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The idea that money growth affects the real economic activity(e.g. real output, empolyment, etc.) only when such monetary growth is purely random or unexpected, is a key issue in modern macroeconomic theory and stabilization policy. The idea is usually called the Rational Expectation Structual Neutrality(RESN) hypothesis. In view of its profound policy implications, the empirical validity of RESN hypothesis is perhaps an important issue in New Classical Macroeconomics. In recent years, much works have been done to test the RESN hypothesis. Unfortunately, most of these studies have limited their attention to the experience of the economy US. Also, the prior empirical studies in Korea are forcused on two-step procedure by OLS. This study intends to investigate whether the RESN hypothesis will be fruitful in explaining the Korea economy. Also this study is intends to provide the robustness of the empirical results in Korea by employing three different method, i.e., two-step procedure by OLS, two-step procedure by ARIMA and VAR methodology with different lag lengths, respectively. The seasonal unadjusted quarterly data over the period from 1970 to 1986 have been used to test the RESN hypothesis. This empirical evidences presented in this study on the basis of the quarterly data from 1970 to 1986 are not supportive for the RESN hypothesis. This study finds that monetary policy, irrespective of whether it is anticipated or unanticipated, affects real output in Korea economy. Therefore the results show the money non-neutrality in Korea economy. The results are robust with respect to the used different method with different lags. However a careful reconsideration of the money growth specification is motivated. Also further studies about the method of tests of the RESN hypothesis and lag determination are required.

서지기타정보

서지기타정보
청구기호 {MMGS 9005
형태사항 [viii], 120 p. : 삽도 26 cm
언어 한국어
일반주기 부록 수록
저자명의 영문표기 : Bum-Sik Kim
지도교수의 한글표기 : 노공균
지도교수의 영문표기 : Kong-Kyun Ro
학위논문 학위논문(석사) - 한국과학기술원 : 경영과학과,
서지주기 참고문헌 : p. 106-112
주제 Rational expectations (Economic theory)
Monetary policy.
경제 분석. --과학기술용어시소러스
통계 분석. --과학기술용어시소러스
시계열 분석. --과학기술용어시소러스
Time-series analysis.
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