Monetary policy in the end-game to exchange-rate based stabilizations: the case of Mexico
Board of Governors of the Federal Reserve System, 1996 - Business & Economics - 47 pages
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28-Day CETES Rate Bank of Mexico based stabilization program Board of Governors changes in interest coefficients cointegration currency growth current account deficit December 19 demand for currency demand for money devaluation disinflation Durbin-Watson Statistic econometric model Equation error-correction model estimated reaction function Estimation Results exchange-rate based stabilization Federal Reserve System Finance Discussion Papers Financial Fitted Values heteroscedasticity Indicadores Econůmicos interest rates rose International Finance Discussion International Financial Statistics international reserves lagged level Log Real long-run loosening of monetary lvel maximal eigenvalue test Mexican monetary policy model of money monetary aggregates monetary authorities monetary base monetary policy reaction Number panel of Chart percent peso policy in 1994 policy reaction function positive shocks raise interest rates real exchange rate real GDP real interest rate Real M2 Regression Standard Error residuals in 1994 sterilization t-statistics Tesobonos tighten monetary policy tightening of monetary trace test Unit Roots vector autoregression