alexa Investigation on Keynesian Monetary Fluctuations
ISSN: 2151-6219

Business and Economics Journal
Open Access

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Research Article

Investigation on Keynesian Monetary Fluctuations

Byung Woo K*

Korea National University of Transportation (KNUT), Korea

*Corresponding Author:
ByungWoo K
Korea National University
of Transportation (KNUT)
72 DaehangNo
Chung Ju Korea -380-702
Tel: 010-6735-7401
E-mail: byungw@ cjnu.ac.kr

Received date: July 25, 2015 Accepted date: August 17, 2015 Published date: August 24, 2015

Citation: Byung Woo K (2015) Investigation on Keynesian Monetary Fluctuations. Bus Eco J 6:174. doi:10.4172/2151-6219.1000174

Copyright: © 2015 Byung Woo K. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.

 

Abstract

We examined money-output regression (St. Louis equation) considering econometric problem, macroeconomic theory, and policy implications. Our results reveal that increases in money affects real variables like output over a few quarters. These results ascertain Keynesian macroeconomic view that price-wage rigidity cause output to respond to nominal shocks like shifts in money demand. Out derivation adds contribution to the original empirical results with regard to; endogeneity of money, lags from monetary shocks on output, and serial correlation in output disturbances (persistence), and fundamental equilibrium relationship (co-integration), etc.

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