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Un ejercicio teórico y empírico acerca de la demanda de dinero

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  • Helmuth Árias Gómez

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Abstract

Este documento realiza un análisis de varios aspectos relacionados con la demandade dinero. Como un preámbulo teórico se realiza la comparación de lospuntos más característicos del análisis keynesiano y monetarista acerca de lademanda de dinero. Posteriormente se aplica un ejercicio empírico utilizando latécnica de cointegración, para modelar el comportamiento de la demanda pordos agregados monetarios específicos, incluyendo el efecto del Gravamen a lasTransacciones Financieras. Finalmente, se realiza un análisis acerca de la relación entre los agregados monetarios y los precios, el cual deriva en una discusión acerca del papel de los agregados monetarios como instrumentos de políticamonetaria, en el contexto de una estrategia de inflación objetivo.__________ABSTRACT:This document analyzes some aspects concerning to the demand of money. Firstly,in an theoretical preamble, it performs a comparison between basic points ofKeynesian and monetarist theories about the demand of money. Later, it uses thecointegration technique in order to estimate the behavior of demand for twospecific monetary aggregates, including the impact of bank debit tax. Finally, itconsiders the connection between the monetary aggregates and the prices. Thisfinal analysis drifts to the discussion about the role of the monetary aggregates asinstruments of monetary policy, in presence of inflation targeting strategy.

Suggested Citation

  • Helmuth Árias Gómez, 2003. "Un ejercicio teórico y empírico acerca de la demanda de dinero," REVISTA APUNTES DEL CENES, UNIVERSIDAD PEDAGOGICA Y TECNOLOGICA DE COLOMBIA, December.
  • Handle: RePEc:col:000152:009739
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    File URL: http://virtual.uptc.edu.co/revistas/index.php/cenes/article/viewFile/510/1567
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    References listed on IDEAS

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    1. Ignacio Lozano & Jorge Ramos, 2000. "Análisis sobre la Incidencia del Impuesto del 2x1000 a las Transacciones Financieras," Borradores de Economia 143, Banco de la Republica de Colombia.
    2. Martha Misas A. & Hugo Oliveros C. & José Darío Uribe E., 1994. "Especificación y estabilidad de la demanda por dinero en Colombia," Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 13(25), pages 97-120, Junio.
    3. Martha Misas & Rodrigo Suescún, 1993. "Funciones de demanda de dinero y el comportamiento estacional del mercado monetario," ENSAYOS SOBRE POLÍTICA ECONÓMICA, BANCO DE LA REPÚBLICA - ESPE, vol. 12(23), pages 55-79, June.
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    More about this item

    Keywords

    Demand of Money; Bank debit tax; Inflation targeting; Demanda de dinero; Gravamen a las Transacciones financieras; Inflación objetivo.;

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets

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