Abstract

GARCES DIAZ, Daniel Guillermo. Efectos de los cambios de la política monetaria en las dinámicas del tipo de cambio, el dinero y los precios en México (1945-2000). El trimestre econ [online]. 2008, vol.75, n.299, pp.683-713.  Epub Nov 20, 2020. ISSN 2448-718X.

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-run demand for currency was the velocity equation, and inflation was driven mainly by the money gap. After a striking change over, from 1983 until 2000 the demand for currency took a very different form, and inflation was determined by the markup without an explicit effect from money. However, the long-run relationship that links the levels of output, the exchange rate and foreign prices with that of nominal money holds for the whole sample.

Keywords : demanda de dinero; PPC; inflación; cointegración; cambios estructurales.