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Money, Income and Prices in Switzerland: An Empirical Test

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Jetzer, M., Weissenberger, E. Money, Income and Prices in Switzerland: An Empirical Test. Journal of Contextual Economics – Schmollers Jahrbuch, 99(4), 491-500. https://doi.org/10.3790/schm.99.4.491
Jetzer, Martin and Weissenberger, Edgar "Money, Income and Prices in Switzerland: An Empirical Test" Journal of Contextual Economics – Schmollers Jahrbuch 99.4, 1979, 491-500. https://doi.org/10.3790/schm.99.4.491
Jetzer, Martin/Weissenberger, Edgar (1979): Money, Income and Prices in Switzerland: An Empirical Test, in: Journal of Contextual Economics – Schmollers Jahrbuch, vol. 99, iss. 4, 491-500, [online] https://doi.org/10.3790/schm.99.4.491

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Money, Income and Prices in Switzerland: An Empirical Test

Jetzer, Martin | Weissenberger, Edgar

Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 99 (1979), Iss. 4 : pp. 491–500

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Article Details

Jetzer, Martin

Weissenberger, Edgar

Abstract

It is shown that the distributed lag estimation of nominal GNP, money and prices does not yield empirical results consistent with the well known monetarist propositions. Specifically we find evidence of unidirectional causation from income to money, as well as from the monetary base to prices. However, feedback from money to prices cannot be excluded. We believe that these results are characteristic for small, open in contrast to closed economies.