Análisis de cointegración y valores umbrales entre la inflación y el crecimiento económico en México: 1970-2007
The aim of this paper is to estimate long run relationships and threshold effects between inflation and economic growth in Mexico. We show the existence of such relationship in a cointegrated vector on Economic Growth (log of real GDP) and Inflation rate finding a corresponding elasticity significantly negative. Moreover, the causal relationship between these two series is studied using a more robust Granger causality test, without finding any directional causality between them. The estimated threshold model suggests 9 percent as the threshold level (i.e., structural break point) of inflation above which inflation significantly slows the Mexican economic growth.
Volume (Year): XXIX (2010)
Issue (Month): 2 (November)
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