Predicción de multiplicadores monetarios en Colombia, Ecuador y Venezuela

Thomas Fullerton () and Ajay Kapur

Lecturas de Economía, 1991, issue 35, 53-86

Abstract: Numerous studies have been published regarding the predictability of money multipliers in industrialized nations, but not for developing economies where inflation is frequently a serious problem. This empirical study applies univariate ARMA techniques used in the U.S. and the Netherlands to model money multipliers in three South American economies. Dynamic simulations with the resulting equations compare favorably with random walk forecasts of the multipliers in each economy. Results indicate that policy analysts in developing countries can utilize Box-Jenkins techniques to help implement monetary policy

Keywords: Multiplicadores monetarios; Colombia; Venezuela; Ecuador (search for similar items in EconPapers)
Date: 1991
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