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Structuralism and Monetarism
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aggregate aggregate demand agricultural bottleneck agricultural market agricultural prices agricultural supply assumed assumption average capacity utilization causality ceteris paribus Chile Chilean coefficient constant consumer price index Corbo demand function determined downward rigid economic endogenous equilibrium relative price estimates excess demand exogenous exogenous variables explanation factor Finally important income inflation process inflationary expectations instrumental variable land latifundios Latin America monetarism monetarist monetary policy money supply Moreover N-market N-price N-sector nominal wage non-food price null hypothesis obtained output parameter Phillips curve present price adjustment price equation price growth rate price level propagation mechanism block quarterly R.Cortazar real balance real wage regression relative price change relative price growth relative price increase sample period sector significance level simulation specification stability statistics structural inflation rate structural pressure block structuralist hypothesis structuralist inflation structuralist theory structuralist view theoretical tion trade unemployment wage changes wage equation wage level