IDEAS home Printed from https://ideas.repec.org/a/pal/imfstp/v34y1987i2p228-259.html
   My bibliography  Save this article

Output and Unanticipated Money in the Dependent Economy Model

Author

Listed:
  • Peter J. Montiel

    (International Monetary Fund)

Abstract

This paper builds a "new classical" model for a fixed-exchange rate economy based on the dependent economy framework, which has proved particularly fruitful for the analysis of macroeconomic issues in developing countries. The implied reduced-form output equations are quite different from their closed, one-sector counterparts. In particular, anticipated policy changes have real effects in this model, though these effects differ from those of unanticipated changes. These equations are estimated for Mexico for the fixed exchange-rate period 1953-75. The results cast some doubts on the relevance of new classical analysis for Mexico during this period.

Suggested Citation

  • Peter J. Montiel, 1987. "Output and Unanticipated Money in the Dependent Economy Model," IMF Staff Papers, Palgrave Macmillan, vol. 34(2), pages 228-259, June.
  • Handle: RePEc:pal:imfstp:v:34:y:1987:i:2:p:228-259
    as

    Download full text from publisher

    File URL: http://www.jstor.org/stable/3867135?origin=pubexport
    File Function: main text
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Zijp, R. van, 1990. "New classical monetary business cycle theory," Serie Research Memoranda 0058, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
    2. Dr.Godwin Chukwudum Nwaobi, 2004. "Money And Output Interraction In Nigeria," Macroeconomics 0405012, EconWPA.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:imfstp:v:34:y:1987:i:2:p:228-259. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sonal Shukla) or (Rebekah McClure). General contact details of provider: http://www.palgrave-journals.com/ .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.