The long-run relationship between money and prices in Mexico: 1969-2010
MPRA Paper from University Library of Munich, Germany
This paper performs a spectral analysis (univariate and bivariate) of monthly series of growth in money (a narrow and a broad aggregate) and in prices for Mexico. This analysis allows the identification of the most important frequencies for each series, as well as of some measures of association between the series, at different frequencies. In particular, zero frequency measures, typically used for identifying the long-run relationship between money and prices, are obtained. In addition to the analysis of the entire series (1969-2010), a rolling sample analysis for the zero frequency is also carried out to allow for changes in the long-run relationships.
Keywords: quantitative theory; spectral analysis; zero frequency; long run; money aggregates; prices; inflation (search for similar items in EconPapers)
JEL-codes: E31 E39 E42 E51 E52 E58 E59 N16 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:93647
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