Relative Prices and Money: A Vector Autoregression on Brazilian Data

David Bessler ()

American Journal of Agricultural Economics, 1984, vol. 66, issue 1, 25-30

Abstract: Recent data on Brazilian agricultural prices, industrial prices, and money supply are analyzed in a vector autoregression. The empirical findings show strong, one-way, Granger-type causality from money supply to agricultural prices; while feedback is observed between industrial prices and money supply. Under the usual monetarist ordering of contemporaneous innovation covariance, agricultural prices do not adjust faster than industrial prices to a shock in the money supply.

Date: 1984
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Persistent link: https://EconPapers.repec.org/RePEc:oup:ajagec:v:66:y:1984:i:1:p:25-30.

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