Working Paper

Anomalous empirical evidence on money long-run super-neutrality and the vertical long-run Phillips curve

Author

  • Andrea Vaona
Publication Date

Money long-run super-neutrality and the vertical long-run Phillips curve are two widely shared beliefs in the economics profession and among economic policy-makers. The present survey is devoted to anomalous empirical evidence which challenges this view. We consider a variety of studies, differing in terms of models, estimation strategies, and countries analyzed. We conclude with a brief discussion of some future possible developments of the literature.

Info

JEL Classification
E31, E40, E50, J64

Key Words

  • empirical evidence
  • long-run
  • money non-super-neutrality
  • non-vertical Phillips curve