On the monetary-macro dynamics of Colombia and Mexico |
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Authors: | Leonardo Leiderman |
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Institution: | Tel-Aviv University, Ramat-Aviv, Tel-Aviv, Israel |
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Abstract: | This paper investigates the dynamic interrelationship among money growth, inflation, and output growth for Colombia and Mexico on the basis of implementation of a vector autoregression methodology. The evidence for Colombia generally shows autonomous output growth and money growth behavior, and an important role for money shocks in accounting for variations in inflations. A different pattern of results emerged for Mexico: there are strong two-way feedbacks among money growth and inflation, and a less autonomous output growth behavior than in Colombia. |
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