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38


PEDRO PABLO ALVAREZ LOIS


Impulse Responses to a 1% Shock in Money Growth Rate

-0,05

-0,1

1               3               5               7               9


Quarters

Figure 10a: Price Relation

-0,1


Impact Effect due to a 1% Shock in Money Growth Rate

-0,04

-0,06

-0,08

0,65     0,72     0,78     0,83     0,86     0,89     0,92     0,95


Capacity Utilization Rate

Figure 10b: Price Relation



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