Noriega-Muro, Antonio E.; Ramos-Francia, Manuel; … - 2015
This paper presents an econometric analysis of the demand for the monetary aggregate M1 in Mexico. Using cointegration … seigniorage maximizing inflation rate, and (3) analysis of the potential relationship between a measure of excess money and … inflation. Results indicate that the low inflation equilibrium is stable, and that the excess money indicator shows, in …