A New Test of Money-Income Causality
用多重秩F检验方法，研究1970-88年间货币与收入的因果关系，发现证据支持两者存在因果关系，且结果不受变量单调变换和误差分布影响。
This paper investigates the prima facie causal relationship between money and income employing a methodology--the multiple rank F test--the results of which are invariant to monotonic transformations of all variables and robust over alternative distributions of the errors. In contrast to prior functional-form dependent parametric analyses, evidence of prima facie causality between money and income is found for the 1970-88 time period. This evidence is consistent with an elementary theoretical framework in which the direction and strength of causality is dependent upon the definition of money. Copyright 1992 by Ohio State University Press.