Abstract

RODRIGUEZ RAMOS, Carlos Antonio. Real effects of the anticipated and nonanticipated money: The Barro methodology in a VAR model and multicointegration for economy, 1980-1999. Inv. Econ [online]. 2005, vol.64, n.251, pp.85-110. ISSN 0185-1667.

In this paper, the Barro hypothesis by means of a VAR model and multicointegration for the Mexican economy is proved. The Barro hypothesis is based on the rational expectations postulates, which indicates that a monetary expansion does not have real effects unless it is surprise. Nevertheless, based on the results, the anticipated and the non-anticipated money supply have real effects in the Mexican economy. In this case, the money is non-neutral. The reasons for this non-neutrality include rigidities in the system, the particular characteristics of monetary policy, and the structure of the Mexican economy.

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