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Articles

Vol. 13 No. 49 (2018)

Stability of monetary demand. Empirical analysisfor: Brazil, Chile and Mexico

  • Ruth Ortiz Zarco
DOI:
https://doi.org/10.29201/s1gxj294
Published
December 28, 2018

Abstract

Using cointegration techniques, an econometric scrutiny of the demand for money in Brazil, Chile and Mexico for the period 1980-2015 is carried out; this is done with the aim of confronting two theoretical positions related to the behavior of money demand: the Keynesian that asserts its instability, against Friedman’s monetarist stance that supports the existence of a demand for stable money. The acquired evidence supports the instability of the demand for money in the three countries studied.

References

  1. Adam, Christopher (2000). “La demanda de dinero por motivo transacción en Chile”, Economía chilena, vol. 3 (3), pp. 210-250.