Bakucs Lajos, Zoltán and Fertő, Imre (2013) Monetary impacts and overshooting of agricultural prices in a transition economy. AFRICAN JOURNAL OF AGRICULTURAL RESEARCH, 8 (23). pp. 2911-2917. ISSN 1991-637X
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Abstract
This research focused on the time adjustment paths of the exchange rate and prices in response to unanticipated monetary shocks. Johansen’s cointegration test along with a vector error correction model was employed, to investigate whether agricultural prices overshoot in a transition economy. The empirical results indicate that agricultural prices adjust faster than industrial prices to innovations in the money supply, affecting relative prices in the short run, but strict long-run money neutrality does not hold.
| Item Type: | Article |
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| Uncontrolled Keywords: | Agricultural prices, monetary shocks, overshooting |
| Subjects: | H Social Sciences / társadalomtudományok > HB Economic Theory / közgazdaságtudomány > HB4 Dynamics of the economy / gazdasági folyamatok S Agriculture / mezőgazdaság > S1 Agriculture (General) / mezőgazdaság általában |
| SWORD Depositor: | MTMT SWORD |
| Depositing User: | MTMT SWORD |
| Date Deposited: | 03 Sep 2013 14:35 |
| Last Modified: | 06 Dec 2013 10:59 |
| URI: | http://real.mtak.hu/id/eprint/6397 |
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