We construct inflation pressure indicators based on the long-run relationship that exists between monetary aggregates … deviations of real M1 from its relationship with its long-run determinants. The m* indicator is based on the estimation of the … determinants considering its long-run coefficients. Our results indicate that monetary policy has been congruent with the inflation …

We construct inflation pressure indicators based on the long-run relationship that exists between monetary aggregates … deviations of real M1 from its relationship with its long-run determinants. The m* indicator is based on the estimation of the … determinants considering its long-run coefficients. Our results indicate that monetary policy has been congruent with the inflation …

inflation of the previous year. This article explores the impact of this decision on the effectiveness of monetary policy, and … shows that the obligation to adjust the salary to past inflation leads monetary policy to have more effect on real activity … and generates more persistent inflation. …

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 …

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 …

established inflation targeting. An optimal monetary rule is estimated for these economies using the Generalized Method of Moments …