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Inflationary Dynamics in Guatemala

Journal of Economics and Political Economy

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Title Inflationary Dynamics in Guatemala
 
Creator FULLERTON, Thomas M.; Department of Economics & Finance, University of Texas at El Paso, El Paso
MARTINEZ, Miguel; Department of Economics &Finance, University of Texas at El Paso, El Paso, TX 79968-0543, Telephone 915-747-7747, Facsimile 915-747-6282
SMITH, Wm. Doyle; Department of Economics &Finance, University of Texas at El Paso, El Paso, TX 79968-0543, Telephone 915-747-7747, Facsimile 915-747-6282
WALKE, Adam; University of Texas at El Paso
 
Description Abstract. Short-run price dynamics for Guatemala are analyzedusing a linear transfer function methodology.  This approach has previously been employed for other national economies such as the United States, Mexico, Colombia, Ecuador, and Nigeria. The data for this study range from 1960 to 2010.  Inflation is measured using the consumer price index.  Explanatory variables include the monetary base, real output, interest rates, and the exchange rate. Allof the estimated coefficients exhibit the arithmetic signs hypothesized by the theoretical model. Almostall of the parameter estimates satisfy the 5-percent significance criterion and all exhibit economically plausible magnitudes. Estimation results indicate that although monetary policy effects begin to materialize within twelve months of implementation, the bulk of the impacts associated with the money supply do not occur until the second year after any monetary policy action is taken.Keywords. Inflation, Guatemala, Monetary Economics, Applied Econometrics.JEL. C22, E31, O54.
 
Publisher Journal of Economics and Political Economy
Journal of Economics and Political Economy
 
Contributor El Paso Water Utilities
Hunt Companies
City of El Paso Office of Management & Budget
UTEP Center for the Study of Western Hemispheric Trade
UTEP Hunt Institute for Global Competitiveness
 
Date 2015-12-18
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
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Format application/pdf
 
Identifier http://www.kspjournals.org/index.php/JEPE/article/view/558
10.1453/jepe.v2i4.558
 
Source Journal of Economics and Political Economy; Vol 2, No 4 (2015): December; 436-444
Journal of Economics and Political Economy; Vol 2, No 4 (2015): December; 436-444
2148-8347
 
Language eng
 
Relation http://www.kspjournals.org/index.php/JEPE/article/view/558/583
http://www.kspjournals.org/index.php/JEPE/article/downloadSuppFile/558/200
http://www.kspjournals.org/index.php/JEPE/article/downloadSuppFile/558/201
http://www.kspjournals.org/index.php/JEPE/article/downloadSuppFile/558/202
http://www.kspjournals.org/index.php/JEPE/article/downloadSuppFile/558/203
 
Rights Copyright (c) 2015 Journal of Economics and Political Economy
http://creativecommons.org/licenses/by-nc/4.0