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La demanda por dinero en Colombia: un poco más de evidencia en el período reciente

  • Hernández Monsalve, Mauricio A.

    ()

  • Posada Posada, Carlos Esteban

    ()

Resumen: los agregados monetarios en Colombia en los últimos años han venidocreciendo a ritmos superiores a los del ingreso nominal, pero las metas de inflación se vienen cumpliendo satisfactoriamente. El objetivo de este artículo es analizar la experiencia colombiana reciente al respecto, mencionar alguna evidencia internacional que se asocie al caso colombiano y poner a prueba la hipótesis según la cual en el país hubo un crecimiento compensatorio de la demanda de dinero. Usando los coeficientes estimados en un estudio anterior basado en una metodología de panel, se creó una serie de demanda por dinero para Colombia y se concluyó que la trayectoria reciente de la demanda de saldos reales es determinante y coincidente con la cantidad de liquidez que decide introducir el banco central al mercado.

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File URL: http://aprendeenlinea.udea.edu.co/revistas/index.php/coyuntura/article/view/2315/1887
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Article provided by UNIVERSIDAD DE ANTIOQUIA - CIE in its journal PERFIL DE COYUNTURA ECONÓMICA.

Volume (Year): (2006)
Issue (Month): ()
Pages:

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Handle: RePEc:col:000165:005051
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  1. Arrau, Patricio & De Gregorio, Jose & Reinhart, Carmen M. & Wickham, Peter, 1995. "The demand for money in developing countries: Assessing the role of financial innovation," Journal of Development Economics, Elsevier, vol. 46(2), pages 317-340, April.
  2. Donald H. Dutkowsky & H. Sonmez Atesoglu, 2001. "The Demand For Money: A Structural Econometric Investigation," Southern Economic Journal, Southern Economic Association, vol. 68(1), pages 92-106, July.
  3. Nelson C. Mark & Donggyu Sul, 2003. "Cointegration Vector Estimation by Panel DOLS and Long-run Money Demand," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 65(5), pages 655-680, December.
  4. Nasri Harb, 2003. "Money Demand Function: A heterogeneous Panel Application," Economics Working Papers 03/04-01, Department of Economics, College of Business and Economics, UAE University.
  5. Mohsen Bahmani-Oskooee & Miquel-Angel Galindo Martin & Farhang Niroomand, 1998. "Exchange rate sensitivity of the demand for money in Spain," Applied Economics, Taylor & Francis Journals, vol. 30(5), pages 607-612.
  6. Martha Misas A. & Enrique López E. & Carlos A. Arango A. & Juan Nicolás Hernández A., 2003. "La Demanda de Efectivo en Colombia: Una Caja Nagra a la Luz de las Redes Neuronales," BORRADORES DE ECONOMIA 002963, BANCO DE LA REPÚBLICA.
  7. Jose De Gregorio, 2003. "Dinero e Inflación: ¿En Qué Estamos?," Working Papers Central Bank of Chile 201, Central Bank of Chile.
  8. Martha Misas A. & Hugo Oliveros C. & José Darío Uribe, 1994. "Especificación Y Estabilidad De La Demanda Por Dinero En Colombia," BORRADORES DE ECONOMIA 002588, BANCO DE LA REPÚBLICA.
  9. Mauricio Hernández Monsalve & Munir A. Jalil Barney & Carlos Esteban Posada, 2006. "¿Por qué ha crecido tanto la cantidad de dinero?: teoría y Evidencia Internacional (1975-2002)," BORRADORES DE ECONOMIA 003821, BANCO DE LA REPÚBLICA.
  10. Arize, A. C. & Shwiff, Steven S., 1998. "The appropriate exchange-rate variable in the money demand of 25 countries: an empirical investigation," The North American Journal of Economics and Finance, Elsevier, vol. 9(2), pages 169-185, December.
  11. Ahmed Khalid, 1999. "Modelling money demand in open economies: the case of selected Asian countries," Applied Economics, Taylor & Francis Journals, vol. 31(9), pages 1129-1135.
  12. Luis Eduardo Arango & Andrés González, 1999. "A Nonlinear Specification Of Demand For Narrow Money In Colombia," BORRADORES DE ECONOMIA 001894, BANCO DE LA REPÚBLICA.
  13. Luis E. Arango & Andrés González, 2000. "A Nonlinear Specification of Demand for Cash in Colombia," Money Affairs, Centro de Estudios Monetarios Latinoamericanos, vol. 0(2), pages 207-226, July-Dece.
  14. Arize, A. C. & Malindretos, John & Grivoyannis, Elias C., 2005. "Inflation-rate volatility and money demand: Evidence from less developed countries," International Review of Economics & Finance, Elsevier, vol. 14(1), pages 57-80.
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