Selecting the money deflator by an encompassing approach: the case of Argentina

This paper econometrically studies two models of money demand for Argentina. Both characterise the whole sample. Their main difference is the real exchange rate as a determinant whose coefficient estimates implied the exchange rate instead of prices should be used as the money deflator. The model w...

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Autores principales: Ahumada, Hildegart, Garegnani, María Lorena
Formato: Objeto de conferencia
Lenguaje:Inglés
Publicado: 2009
Materias:
Ciencias Económicas
Equilibrium-Correction
Monetary-aggregate
Encompassing
Money Deflator
Acceso en línea:http://sedici.unlp.edu.ar/handle/10915/170382
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SEDICI (UNLP) de Universidad Nacional de La Plata
id I19-R120-10915-170382
record_format dspace
spelling I19-R120-10915-1703822024-09-19T20:10:21Z http://sedici.unlp.edu.ar/handle/10915/170382 Selecting the money deflator by an encompassing approach: the case of Argentina Ahumada, Hildegart Garegnani, María Lorena 2009-11 2009 2024-09-19T17:35:05Z en Ciencias Económicas Equilibrium-Correction Monetary-aggregate Encompassing Money Deflator This paper econometrically studies two models of money demand for Argentina. Both characterise the whole sample. Their main difference is the real exchange rate as a determinant whose coefficient estimates implied the exchange rate instead of prices should be used as the money deflator. The model with money deflated by the exchange rate encompasses the model with money deflated by prices. The exchange rate appears to be a proper deflator for hyperinflation experiences and for economies prone to suffer chronic inflation. The choice of the deflator is a key issue for monetary adjustments in response to real exchange rate modifications. Este trabajo estudia econométricamente dos modelos de demanda de dinero para Argentina. Ambos caracterizan apropiadamente el período analizado. Su principal diferencia es el tipo de cambio real como determinante. Las estimaciones de su coeficiente indican que el tipo de cambio nominal debe usarse como deflactor de los saldos monetarios en lugar de los precios. El modelo con este deflactor engloba al que usa precios. El tipo de cambio sería el deflactor no solo para hiperinflaciones sino también para economías con inflación crónica. La elección del deflactor es central para los ajustes monetarios asociados a modificaciones del tipo de cambio real. Facultad de Ciencias Económicas Objeto de conferencia Objeto de conferencia http://creativecommons.org/licenses/by-nc-sa/4.0/ Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0) application/pdf
institution Universidad Nacional de La Plata
institution_str I-19
repository_str R-120
collection SEDICI (UNLP)
language Inglés
topic Ciencias Económicas
Equilibrium-Correction
Monetary-aggregate
Encompassing
Money Deflator
spellingShingle Ciencias Económicas
Equilibrium-Correction
Monetary-aggregate
Encompassing
Money Deflator
Ahumada, Hildegart
Garegnani, María Lorena
Selecting the money deflator by an encompassing approach: the case of Argentina
topic_facet Ciencias Económicas
Equilibrium-Correction
Monetary-aggregate
Encompassing
Money Deflator
description This paper econometrically studies two models of money demand for Argentina. Both characterise the whole sample. Their main difference is the real exchange rate as a determinant whose coefficient estimates implied the exchange rate instead of prices should be used as the money deflator. The model with money deflated by the exchange rate encompasses the model with money deflated by prices. The exchange rate appears to be a proper deflator for hyperinflation experiences and for economies prone to suffer chronic inflation. The choice of the deflator is a key issue for monetary adjustments in response to real exchange rate modifications.
format Objeto de conferencia
Objeto de conferencia
author Ahumada, Hildegart
Garegnani, María Lorena
author_facet Ahumada, Hildegart
Garegnani, María Lorena
author_sort Ahumada, Hildegart
title Selecting the money deflator by an encompassing approach: the case of Argentina
title_short Selecting the money deflator by an encompassing approach: the case of Argentina
title_full Selecting the money deflator by an encompassing approach: the case of Argentina
title_fullStr Selecting the money deflator by an encompassing approach: the case of Argentina
title_full_unstemmed Selecting the money deflator by an encompassing approach: the case of Argentina
title_sort selecting the money deflator by an encompassing approach: the case of argentina
publishDate 2009
url http://sedici.unlp.edu.ar/handle/10915/170382
work_keys_str_mv AT ahumadahildegart selectingthemoneydeflatorbyanencompassingapproachthecaseofargentina
AT garegnanimarialorena selectingthemoneydeflatorbyanencompassingapproachthecaseofargentina
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