On the interrelationships among real, monetary, and financial variables

Results from multivariate cointegration and error-correction models consistently reject the dichotomy conclusion of a recent paper in this Journal and reveal instead strong evidence of pronounced linkages among real, monetary, and financial sectors of the US economy. The results further indicate tha...

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Bibliographic Details
Published in:Applied financial economics 1999-06, Vol.9 (3), p.289-293
Main Authors: DARRAT, A. F., DICKENS, R.N.
Format: Article
Language:English
Subjects:
Cointegration analysis
Economic activity
Economic theory
Empirical research
Finance
Mathematical economics
Monetary policy
Multivariate analysis
Securities markets
Statistics
Studies
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Summary:Results from multivariate cointegration and error-correction models consistently reject the dichotomy conclusion of a recent paper in this Journal and reveal instead strong evidence of pronounced linkages among real, monetary, and financial sectors of the US economy. The results further indicate that the stock market is a key leading indicator of both monetary policy and real economic activity.
ISSN:0960-3107
1466-4305
DOI:10.1080/096031099332366