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Estimation of the Length of Long-Run in Different Economies: Using Time Series Filters
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Ali Hasanzadeh *   , Ramin Mojab |
| , ali.hasanzadeh@mbra-cbi.ac.ir |
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Abstract: (8577 Views) |
| Assuming that in long-run, money is the main determinant of price level, we can state that long-run is a period in which money and prices are highly correlated. Given this assumption, we have calculated the length of the long-run periods of different economies by using Christiano-Fitzherald (2003) Filter. The results show that we cannot consider the same period as long-run for different economies. We have calculated the length of this period for different economies. These periods are longer for economies facing more supply shocks. |
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| Keywords: Long-run, Money, Prices, Christiano-Fitzherald Filter |
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Full-Text [PDF 297 kb]
(1771 Downloads)
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Type of Study: Research |
Subject:
General
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