On the monetary-macro dynamics of Colombia and Mexico

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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.

Original languageEnglish
Pages (from-to)183-201
Number of pages19
JournalJournal of Development Economics
Issue number1
StatePublished - 1984


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