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- Title
EFECTOS DE LOS CAMBIOS DE LA POLÍTICA MONETARIA EN LAS DINÁMICAS DEL TIPO DE CAMBIO, EL DINERO Y LOS PRECIOS EN MÉXICO (1945-2000).
- Authors
Díaz, Daniel Guillermo Garcés
- Abstract
This paper shows that an economic policy change in 1982 brought about a conspicuous alteration in the relationship between money, prices and the exchange rate in Mexico. Before that year, the long-term demand for currency fit the velocity equation, and inflation was driven mainly by the money gap. After a striking changeover, from 1983 until 2000, the demand for money took a very different form, and inflation was determined by the markup without an explicit currency effect. However, the long-term relationship that links the levels of output, the exchange rate and foreign prices with that of nominal money holds for the whole sample.
- Subjects
MEXICO; MONEY; PRICES -- Mathematical models; MONETARY policy -- History; CIRCULAR velocity of money; MONEY supply; DEMAND for money; PRICE inflation; MEXICAN economy; MATHEMATICAL models; TWENTIETH century
- Publication
Trimestre Económico, 2008, Vol 75, Issue 299, p683
- ISSN
0041-3011
- Publication type
Article