TY - JOUR
T1 - On the monetary-macro dynamics of Colombia and Mexico
AU - Leiderman, Leonardo
N1 - Funding Information:
‘I am indebted to the Center for Latin American Development Studies ICLADS) of Boston University for its financial support. The presex t version benefitted from the comments of an auonymous referee and of participants at a CLADS Seminar and from suggestions and help given by Oldrich Kyn and Daniel Schydlowsky. Any errors are mine. ‘For recent discussions of these issues see H;uberger (1978), Diat-Mejandro Dombuscb f198l), and Khan and Kight (1981b). %x? Sims (19gCQ).
PY - 1984
Y1 - 1984
N2 - 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.
AB - 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.
UR - http://www.scopus.com/inward/record.url?scp=0021593060&partnerID=8YFLogxK
U2 - 10.1016/0304-3878(84)90049-X
DO - 10.1016/0304-3878(84)90049-X
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AN - SCOPUS:0021593060
SN - 0304-3878
VL - 14
SP - 183
EP - 201
JO - Journal of Development Economics
JF - Journal of Development Economics
IS - 1
ER -