|
|
|
|
Title: |
Asymmetric Effects of Money on Inflation:
Evidence from Korean Data |
| Author: |
Rhee, Wooheon |
| Author
Affiliation: |
Kyung Hee U |
| Source: |
International Economic Journal, Winter 1995, v. 9, no. 4, pp. 31-43 |
|
Publication Date: |
Winter 1995 |
|
Abstract: |
New Keynesian macroeconomic models predict
that monetary shocks have asymmetric effects on inflation, i.e.,
inflation responds more to positive monetary shocks than to negative
shocks (Asymmetry Hypothesis A), and that the asymmetry is positively
associated with movements in average inflation (Asymmetry Hypothesis B).
Korean data are shown to provide little support for Asymmetry Hypothesis
A and strong support for Asymmetry B. |
|
