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Budget Deficit, Money Growth and Inflation: Evidence from the Colombian Case

Luis Ignacio
Lozano-Espitia
Sábado, 1 Noviembre 2008

Evidence of the causal long-term relationship between budget deficit, money growth and inflation in Colombia is analyzed in this paper, considering the standard (M1), the narrowest (M0-Base) and the broadest (M3) definitions of money supply. Using a vecto