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.
Hasanzadeh A, Mojab R. Estimation of the Length of Long-Run in Different Economies: Using Time Series Filters . qjerp 2011; 19 (59) :223-236 URL: http://qjerp.ir/article-1-202-en.html