La neutralidad monetaria en el largo plazo en un contexto ARIMA: Una aplicación al caso ecuatoriano

Abstract

This survey is about some theoretical aspects regarding money neutrality in the long run, and also presents empirical evidence of long run neutrality of money in the ecuadorian economy. The used methodology 1s relatively new, and the econometric framework is based on Blvarlate ARIMA Non Structural techniques, that relies on non stationarities features of the time series. The results founded, using this methodology, support the null hypothesis of money neutrality in the long run in Ecuador. However, this results does not contradicts the short runs eflects of money on the real side of the economy.