Selecting the money deflator by an encompassing approach: the case of Argentina
- Autores
- Ahumada, Hildegart; Garegnani, María Lorena
- Año de publicación
- 2009
- Idioma
- inglés
- Tipo de recurso
- documento de conferencia
- Estado
- versión publicada
- Descripción
- 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 - Materia
-
Ciencias Económicas
Equilibrium-Correction
Monetary-aggregate
Encompassing
Money Deflator - Nivel de accesibilidad
- acceso abierto
- Condiciones de uso
- http://creativecommons.org/licenses/by-nc-sa/4.0/
- Repositorio
- Institución
- Universidad Nacional de La Plata
- OAI Identificador
- oai:sedici.unlp.edu.ar:10915/170382
Ver los metadatos del registro completo
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Selecting the money deflator by an encompassing approach: the case of ArgentinaAhumada, HildegartGaregnani, María LorenaCiencias EconómicasEquilibrium-CorrectionMonetary-aggregateEncompassingMoney DeflatorThis 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 Económicas2009-11info:eu-repo/semantics/conferenceObjectinfo:eu-repo/semantics/publishedVersionObjeto de conferenciahttp://purl.org/coar/resource_type/c_5794info:ar-repo/semantics/documentoDeConferenciaapplication/pdfhttp://sedici.unlp.edu.ar/handle/10915/170382enginfo:eu-repo/semantics/altIdentifier/isbn/978-987-99570-7-3info:eu-repo/semantics/altIdentifier/url/https://bd.aaep.org.ar/anales/works/works2009/ahumada.pdfinfo:eu-repo/semantics/altIdentifier/issn/1852-0022info:eu-repo/semantics/openAccesshttp://creativecommons.org/licenses/by-nc-sa/4.0/Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0)reponame:SEDICI (UNLP)instname:Universidad Nacional de La Platainstacron:UNLP2025-09-29T11:43:20Zoai:sedici.unlp.edu.ar:10915/170382Institucionalhttp://sedici.unlp.edu.ar/Universidad públicaNo correspondehttp://sedici.unlp.edu.ar/oai/snrdalira@sedici.unlp.edu.arArgentinaNo correspondeNo correspondeNo correspondeopendoar:13292025-09-29 11:43:21.145SEDICI (UNLP) - Universidad Nacional de La Platafalse |
dc.title.none.fl_str_mv |
Selecting the money deflator by an encompassing approach: the case of Argentina |
title |
Selecting the money deflator by an encompassing approach: the case of Argentina |
spellingShingle |
Selecting the money deflator by an encompassing approach: the case of Argentina Ahumada, Hildegart Ciencias Económicas Equilibrium-Correction Monetary-aggregate Encompassing Money Deflator |
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 |
dc.creator.none.fl_str_mv |
Ahumada, Hildegart Garegnani, María Lorena |
author |
Ahumada, Hildegart |
author_facet |
Ahumada, Hildegart Garegnani, María Lorena |
author_role |
author |
author2 |
Garegnani, María Lorena |
author2_role |
author |
dc.subject.none.fl_str_mv |
Ciencias Económicas Equilibrium-Correction Monetary-aggregate Encompassing Money Deflator |
topic |
Ciencias Económicas Equilibrium-Correction Monetary-aggregate Encompassing Money Deflator |
dc.description.none.fl_txt_mv |
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 |
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. |
publishDate |
2009 |
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2009-11 |
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http://sedici.unlp.edu.ar/handle/10915/170382 |
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eng |
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eng |
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