Money, the Dynamics of Inflation and the Balance of Payments in Latin America, 1947-1976

<p>The main focus of this dissertation is to empirically test a number of assumptions of simple monetary models of the balance of payments using annual data on sixteen Latin American countries. The usual assumption of rapid price arbitrage is shown not to hold for most of these countries. Moreover, by using the technique developed by Granger, it is shown that the domestic rate of inflation is not an exogenous determinant of the respective official settlements balance of payments for most of these countries. Therefore, single equation models of the balance of payments which use the domestic rate of inflation as a regressor suffer from simultaneity bias. In addition, estimates of the demand for real cash balances per capita indicate a stable relationship for all countries.</p>

Name thesis:degree_name

Doctor of Philosophy

Level thesis:degree_level

Doctoral

Discipline thesis:degree_discipline

Economics

Grantor

The Graduate School and University Center of The City University of New York

Year dc:date.available

1979

Author dc:creator

• Cassese, Anthony

Advisor dc:contributor.advisor

• Alvin L. Marty

Committee members dc:contributor.committeemember

• Damodar Gujarati
• Elliot Zupnick

• Economics

Repository record dc:identifier

https://academicworks.cuny.edu/gc_etds/2223

OAI identifier oai:identifier

oai:academicworks.cuny.edu:gc_etds-3265