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BACKGROUND TO ECONOMIC POLICY 194069
THE SPECIFICATION OF A MACROECONOMIC
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1in millions assets average balance of payments Banco Nacional Bank of Mexico banking system CD CD CD central bank cn cn cn Comercio Exterior consumption current account deficit demand for money deposit banks devaluation direct foreign investment dummy variable Durbin-Watson statistic Economic Development economic growth Econůmica effect equation estimated exchange rate exogenous exports finance Financiera fixed investment foreign exchange Foreign Trade function growth rate implicit price deflator increase industries inflationary interest rate liquidity trap loans ment Mexican economy million pesos monetary authorities monetary base monetary policy money supply money wage Nacional de Comercio nominal money nonbank Noyola OOOOOOOOOO open market operations ordinary least squares percent price level private sector production profits public sector rate of inflation rate of interest rate of return real income real output real sector rediscount reserve requirements short-term statistically stock of money structure supply of money Table tariffs taxation