Reinhart, Carmen (1993): Output fluctuations and monetary shocks in Colombia: A reply to Garcia. Published in: IMF Staff Papers , Vol. 40, No. 4 (December 1993): pp. 876-877.
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Abstract
We highlight in this note how an application of a similar estimation approach as ours to Colombian data for a more recent period following financial and capital account liberalization may find that the money supply is "endogenous" (i.e. demand-determined as long as the exchange rate is heavily managed.
| Item Type: | MPRA Paper |
|---|---|
| Original Title: | Output fluctuations and monetary shocks in Colombia: A reply to Garcia |
| Language: | English |
| Keywords: | inflation money Colombia capital controls |
| Subjects: | F - International Economics > F0 - General E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit |
| Item ID: | 13354 |
| Depositing User: | Carmen Reinhart |
| Date Deposited: | 14 Feb 2009 14:35 |
| Last Modified: | 28 Sep 2019 11:51 |
| References: | Campbell, John r:., and Pierre Perron, "Pitfalls and Opportunities: What Macroeconomists Should Know About Unit Roots," NBER Macroeconomics Annual 6 (1991), pp. 144-200. Reinhart, Carmen M. and Vincent R. Reinhart, “Output Fluctuations and Monetary Shocks: Evidence from Colombia,” (with Vincent R. Reinhart), IMF Staff Papers, Vol. 38 No. 4, December 1991, 705-735. |
| URI: | https://mpra.ub.uni-muenchen.de/id/eprint/13354 |
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