| Description |
1 online resource (ii, 29 pages) : illustrations |
| Series |
IMF working paper ; WP-91-35 |
|
IMF working paper ; WP/91/35
|
| Summary |
Using annual data for Colombia over the last thirty years and a new battery of econometric techniques, we test opposing theories that explain macroeconomic fluctuations: the neoclassical synthesis, which posits that, in the presence of temporary price rigidity, an unanticipated monetary expansion produces output gains that erode over time with increases in the price level; and an alternative explanation, which focuses on real technological or preference shocks as the sources of output changes. the coefficients from these systems are used to examine two basic propositions: the long-run neutrality of nominal quantities with respect to permanent movements in the money stock; and the short-run sensitivity of output to inflation |
| Bibliography |
Includes bibliographical references (pages 27-29) |
| Notes |
Print version record |
| Subject |
Colombia -- Economic conditions -- Econometric models.
|
| Form |
Electronic book
|
| Author |
Reinhart, Vincent, author
|
|
International Monetary Fund. Research Department, issuing body
|
| ISBN |
1455249351 |
|
9781455249350 |
|
