Lags from Money on Inflation in a Monetary Integrated Economy: Evidence from the Extreme Case of Puerto Rico
Journal Title: Fórum Empresarial - Year 2007, Vol 12, Issue 1
Abstract
This paper examines the time-length of money growth's long and short run effect in affecting the rate of inflation in the context of an economy of extreme monetary integration. Money growth is measured as the rate of growth of Puerto Rico's consumer price index. By analyzing the case of Puerto Rico, we find that a dynamic expansion of money is reflected on prices immediately, but the unitary effect occurs approximately within ten quarters. In addition, the results show that local inflation is significantly influenced by its own past history and monetary policy, with the second halving the greater effect.
Authors and Affiliations
Carlos A. Rodríguez
Keywords
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- EP ID EP753074
- DOI https://doi.org/10.33801/fe.v12i1.3392
- Views 20
- Downloads 1
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