Choques de Política Monetaria en México: Aplicación de un Modelo SVAR con restricciones de corto plazo (1995-2012)

  • Adelaido García Andrés
DOI: https://doi.org/10.33937/reveco.2014.49
Keywords: monetary policy, structural autoregressive model, impulse-response functions

Abstract

In recent years, the Bank of Mexico follows a policy of stable prices and inflation. Following the work by Bernanke and Mihov (1998) we construct a SVAR system with monthly data to determine how effective different monetary policy regimens have been achieving this goal. The impact of monetary policy on inflation and other macroeconomic aggregates is measures through changes in the short run interest. The findings show that the funds rate regime provides a good approximation to the process by which the monetary authority offsets the monetary shocks, money demand decreases and maintains the stability of the price level.

Published
2014-06-01
How to Cite
García Andrés, A. (2014). Choques de Política Monetaria en México: Aplicación de un Modelo SVAR con restricciones de corto plazo (1995-2012). Journal of Economics, Faculty of Economics, Autonomous University of Yucatan, 31(83), 51. https://doi.org/10.33937/reveco.2014.49
Issue
Vol 31 No 83 (2014): Segundo Semestre 2014 Vol. XXXI Num.83
Section
Original Articles

Copyright (c) 2014 Revista de Economía

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.

D.R. © Revista de Economía

The conditions that are required when granting the attribution license called CC -BY-NC-SA are the following:

1. The Universidad Autónoma de Yucatán must be clearly identified as the owner of the copyright of the original publication.

2. The material may not be used for commercial purposes.

3. Any derivative work must be published and distributed under the same open access license as the original publication.