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Dinero como indicador de la inflación en Chile
[Money as an inflation indicator in Chile]

Author

Listed:
  • Huaita, Franklin

Abstract

This paper proposes a closed-economy new keynesian model to evaluate the role of high growth rate of monetary aggregates on the inflation determination in Chile the last years. We estimate a rational expectations equations system derived by the model through Generalized Method of Moments (GMM). Main results do not find statistical evidence of relevant additional information in monetary aggregates -M1A and M2A- to predict inflation that were not contained in lags of output gap.

Suggested Citation

  • Huaita, Franklin, 2005. "Dinero como indicador de la inflación en Chile [Money as an inflation indicator in Chile]," MPRA Paper 9943, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:9943
    as

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    References listed on IDEAS

    as
    1. Rudd, Jeremy & Whelan, Karl, 2005. "New tests of the new-Keynesian Phillips curve," Journal of Monetary Economics, Elsevier, vol. 52(6), pages 1167-1181, September.
    2. Tobias Broer & Rodrigo Caputo, 2004. "Money As An Inflation Indicator In Chile: Does P* Still Work?," Working Papers Central Bank of Chile 293, Central Bank of Chile.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Money; Inflation; GMM; Phillips Curve;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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