文章基本信息

标题：Inflation, Monetary Policy and Economic Growth in Mexico. An Inverse Causation, 1970-2009
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作者：Eduardo Loría ; Jorge Ramírez
期刊名称：Modern Economy
印刷版ISSN：2152-7245
电子版ISSN：2152-7261
出版年度：2011
卷号：2
期号：5
页码：834-845
DOI：10.4236/me.2011.25093
出版社：Scientific Research Publishing
摘要：It is demonstrated through an Structural Vector Auto Regression (SVAR) model which distinguishes short and long term effects, that the monetary policy implemented in Mexico (1970-2008) has been successful in reducing inflation at the cost of stagnation, especially after 2002. Inflation Targeting is contradictory in itself because, while it is efficient in improving transparency and credibility of the monetary policy, it does not solve the structural causes of inflation and conversely, increases the financial costs of economic agents.
关键词：Classical Dichotomy; Structural Vector Auto Regression Model; Monetary Policy; Inflation Targeting