Relative Prices and Money: Further Results for the United States

S. Devadoss, William H. Meyers

Research output: Contribution to journalArticlepeer-review

41 Scopus citations


Empirical results support the hypothesis that agricultural prices respond faster than manufactured product prices to a change in money supply in the United States. Sims' vector autoregression (VAR) technique was applied in examining this hypothesis. The monte-carlo integration method was used to test the significance of the impulse responses generated by the VAR technique.

Original languageEnglish
Pages (from-to)838-842
Number of pages5
JournalAmerican Journal of Agricultural Economics
Issue number4
StatePublished - Nov 1987


  • Money supply shock
  • Monte-carlo test
  • Relative prices
  • Vector autoregression


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