Instead, any in… "Friedrich August von Hayek," John Eatwell, Murray Milgate, and Peter Newman, eds. Neutrality of money is the idea that a change in the stock of money affects only nominal variables in the economy such as prices, wages, and exchange rates, with no effect on real variables, like employment, real GDP, and real consumption.
(1987). Neutrality of money is an important idea in classical economics and is related to the classical dichotomy. 609–614 "Hayek on Neutral Money and the Cycle," UWO Department of Economics Working Papers #9206. When neutrality of money coincides with zero population growth, the economy is said to rest in Many economists maintain that money neutrality is a good approximation for how the economy behaves over long periods of time but that in the short run Neutrality of money has been a central question for Even if money is neutral, so that the level of the money supply at any time has no influence on real magnitudes, money could still be non-superneutral: the See David Laidler (1992). It implies that the central bank does not affect the real economy (e.g., the number of jobs, the size of real GDP, the amount of real investment) by creating money. and Roger Garrison & Israel Kirzner. The New Palgrave: A Dictionary of Economics London: Macmillan Press Ltd., 1987, pp.
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