Un modelo econométrico de vectores autorregresivos y cointegración de la economía mexicana, 1980-1996
The objective of this article is to analyze the existence of long term relationships in Mexico between prices, a monetary aggregate, income and the interest rate. These results indicate the presence of at least three cointegrating vectors with economic meaning. These vectors can be interpreted as reduced forms of a very simple IS-LM model type with a price equation derived from the quantity identity and market imperfections. Furthermore, the results reject the null hypothesis of weak exogeneity and hence the four variables must be specified simultaneously in order to keep all relevant information in the model.
Volume (Year): VI (1997)
Issue (Month): 2 (July-December)
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