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DEMANDA POR DINERO EN MÉXICO (1986-2010).
- Source :
-
Trimestre Económico . oct-dic2011, Vol. 78 Issue 4, p699-749. 51p. 10 Charts, 10 Graphs. - Publication Year :
- 2011
-
Abstract
- This paper presents an econometric analysis of the demand for the monetary aggregate M1 for Mexico. Using cointegration techniques, we identify both a stable long-run relationship between M1 and its determinants, and a statistically sound single-equation error-correction model. Results are used to carry out the following simple applications: i) empirical determination of the value and stability of dual inflationary equilibria, given the observed seigniorage levels; ii) calculation of the seigniorage maximizing inflation rate, and iii) analysis of the potential relationship between a measure of excess money and inflation. Results indicate that the low inflation equilibrium is stable, and that the excess money indicator shows, in retrospective, some capacity in predicting inflationary pressures. [ABSTRACT FROM AUTHOR]
- Subjects :
- *FINANCE
*COINTEGRATION
*PRICE inflation
*ECONOMIC forecasting
Subjects
Details
- Language :
- Spanish
- ISSN :
- 00413011
- Volume :
- 78
- Issue :
- 4
- Database :
- Academic Search Index
- Journal :
- Trimestre Económico
- Publication Type :
- Academic Journal
- Accession number :
- 70288326
- Full Text :
- https://doi.org/10.20430/ete.v78i312.47