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Fuentes de la inflación en México, 1989-2000: Un análisis multicausal de corrección de errores

  • Gerardo Esquivel

    (El Colegio de México)

  • Raúl Razo

    (Banco de México)

This article analyzes the determinants of inflation in Mexico during the 1989–2000 period. Inflation is modelled as a function of deviations in the long-run relations that may exist in the monetary, labour and exchange rate markets. By using cointegration techniques, we obtain an error-correction model where money excess, wage pressure and deviations of the Purchasing Power Parity are possible sources of inflation. The model includes an inertial factor and a policy component due to government-controlled price changes in certain goods. The results show that all the factors mentioned have contributed to the determination of the inflationary dynamics in Mexico.

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Article provided by El Colegio de México, Centro de Estudios Económicos in its journal Estudios Económicos.

Volume (Year): 18 (2003)
Issue (Month): 2 ()
Pages: 181-226

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Handle: RePEc:emx:esteco:v:18:y:2003:i:2:p:181-226
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