To add to Lilia Costabile's valuable comment on "exceptions to monetary neutrality" in the
literature, I would like to add that Wicksell's writings on the money caused inflationary
or the delationary "cumulative process" also did not assume monetary neutrality in the
long period. Relative prices would change, changing the distribution of income; also the
cumulative deflationary process involved a reduction of aggregate output, plus changes in
relative prices. Furthermore, as already hinted at, von Mises transformed the long run CP
even more into a theory of growth (or decline) in Money and Credit and Human Action.  Both
Wicksell and von Mises realized that money variations could cause real cycles and growth
or decline. Michael Gootzeit
 
Michael J. Gootzeit