文章基本信息

标题：Inflationary Dynamics in Guatemala
本地全文：下载
作者：Thomas M. FULLERTON ; Miguel MARTINEZ ; Wm. Doyle SMITH 等
期刊名称：Journal of Economics and Political Economy
印刷版ISSN：2148-8347
出版年度：2015
卷号：2
期号：4
页码：436-444
DOI：10.1453/jepe.v2i4.558
语种：English
出版社：KSP Journals
摘要：. Short-run price dynamics for Guatemala are analyzedusing a linear transfer function methodology. This approach has previously been employed for other national economies such as the United States, Mexico, Colombia, Ecuador, and Nigeria. The data for this study range from 1960 to 2010. Inflation is measured using the consumer price index. Explanatory variables include the monetary base, real output, interest rates, and the exchange rate. Allof the estimated coefficients exhibit the arithmetic signs hypothesized by the theoretical model. Almostall of the parameter estimates satisfy the 5-percent significance criterion and all exhibit economically plausible magnitudes. Estimation results indicate that although monetary policy effects begin to materialize within twelve months of implementation, the bulk of the impacts associated with the money supply do not occur until the second year after any monetary policy action is taken.
其他摘要：Abstract. Short-run price dynamics for Guatemala are analyzedusing a linear transfer function methodology. This approach has previously been employed for other national economies such as the United States, Mexico, Colombia, Ecuador, and Nigeria. The data for this study range from 1960 to 2010. Inflation is measured using the consumer price index. Explanatory variables include the monetary base, real output, interest rates, and the exchange rate. Allof the estimated coefficients exhibit the arithmetic signs hypothesized by the theoretical model. Almostall of the parameter estimates satisfy the 5-percent significance criterion and all exhibit economically plausible magnitudes. Estimation results indicate that although monetary policy effects begin to materialize within twelve months of implementation, the bulk of the impacts associated with the money supply do not occur until the second year after any monetary policy action is taken. Keywords. Inflation, Guatemala, Monetary Economics, Applied Econometrics. JEL. C22, E31, O54.
关键词：Inflation; Guatemala; Monetary Economics; Applied Econometrics. JEL. C22; E31; O54.