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Fuentes de la inflación en México, 1989-2000: Un análisis multicausal de corrección de errores

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  • Gerardo Esquivel

    (El Colegio de México)

  • Raúl Razo

    (Banco de México)

Abstract

This article analyzes the determinants of inflation in Mexico during the 1989–2000 period. Inflation is modelled as a function of deviations in the long-run relations that may exist in the monetary, labour and exchange rate markets. By using cointegration techniques, we obtain an error-correction model where money excess, wage pressure and deviations of the Purchasing Power Parity are possible sources of inflation. The model includes an inertial factor and a policy component due to government-controlled price changes in certain goods. The results show that all the factors mentioned have contributed to the determination of the inflationary dynamics in Mexico.

Suggested Citation

  • Gerardo Esquivel & Raúl Razo, 2003. "Fuentes de la inflación en México, 1989-2000: Un análisis multicausal de corrección de errores," Estudios Económicos, El Colegio de México, Centro de Estudios Económicos, vol. 18(2), pages 181-226.
    • Handle: RePEc:emx:esteco:v:18:y:2003:i:2:p:181-226
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    File URL: https://estudioseconomicos.colmex.mx/index.php/economicos/article/view/184/186
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