A Divisia Measure of the Money Supply for Mexico

IF 16.4 1区化学 Q1 CHEMISTRY, MULTIDISCIPLINARY

Accounts of Chemical Research Pub Date : 2024-08-13 DOI:10.1111/jmcb.13198

LUIS FERNANDO COLUNGA‐RAMOS, VICTOR J. VALCARCEL

引用次数: 0

Abstract

We produce the first measure of Divisia money for Mexico. Various structural VAR identifications with Divisia M4 as an indicator of monetary policy yield responses of production and prices that are in every case at least as sensible as—and generally offer an improvement over—their counterpart specifications with a short‐term offer rate as the indicator. Importantly, we find that our Divisia specifications do not require expanding the model's information set with commodity prices or the real exchange rate for a resolution of the price puzzle. We reach similar conclusions for Mexico to those Keating et al. (2019) arrive at for the U.S. economy.

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墨西哥货币供应量的迪维西亚测量法

我们首次对墨西哥的 Divisia 货币进行了衡量。以 Divisia M4 作为货币政策指标的各种结构性 VAR 识别所得出的生产和价格反应在每种情况下都至少与以短期报价率作为指标的对应规格一样合理，而且一般都有所改进。重要的是，我们发现我们的 Divisia 规格并不需要通过商品价格或实际汇率来扩展模型的信息集，从而解决价格难题。我们对墨西哥得出的结论与 Keating 等人（2019 年）对美国经济得出的结论相似。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Accounts of Chemical Research 化学-化学综合

CiteScore

31.40

自引率

1.10%

发文量

312

审稿时长

2 months

期刊介绍： Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.