Money Demand and Seigniorage-Maximizing ... - William Easterly

TABLE 2
COUNTRY ESTIMATIONS IN LEVELS
Country k
Argentina -1.66
(0.04)
-1.32
(0.37)
Bolivia - 2.63
(0.07)
-2.59
(0.09)
Brazil -1.69
(0.12)
-2.06
(O. 10)
Chile -2.96
(0.17)
-2.97
(0.29)
Ghana -1.32
(0.15)
- 1.21
(0.12)
Israel -1.47
(0.13)
-1.60
(0.12)
Mexico -2.12
(0.05)
-2.16
(0.05)
Nicaragua -3.53
(0.12)
-3.65
(0.08)
Peru - 1.91
(0.13)
-2.08
Uruguay - 1.83
(0.21)
1.99
(66.25)
Zaire - 1.29
(O. 10)
-5.50
(106.8)
ln (-) = k + Atrz
A w R2A DW ObS (p-p_l ) _ s r
-1.69 1
(0.18)
- 1.93 0.65
(0.37) (0.26)
-0.68 1
(0.14)
-0.69 0.81
(0.17) (0.54)
-1.95 1
(0.22)
- 1.96 2.03
(0.14) (0.67)
-0.16 1
(0.28)
-0.16 1.37
(0.27) (9.42)
- 1.52 1
(0.56)
-1.35 0.68
(0.56) (0.40)
-2.28 1
(0.21)
-2.55 1.39
(0.49) (0.51)
-1.44 1
(0.27)
- 1.66 1.24
(0.52) (0.55)
-1.58 1
(0.55)
-2.75 9.97
(0.17) (2.12)
-1.34 1
(0.30)
- 1.65 2.28
(0.11) (0.12)
-1.36 1
(0.61)
-4.77 0.08
(65.72) (1.31)
-1.57 1
(0.21)
-7.79 0.05
(106.6) (0.67)
0.77 0.83 30
0.77 0.76 30
0.36 0.29 30
0.33 0.29 30
0.76 0.38 30
0.82 0.32 30
-0.03 0.25 30
-0.06 0.25 30
0.23 0.25 31
0.21 0.26 31
0.69 0.23 31
0.68 0.29 31
0.58 0.33 31
0.57 0.39 31
0.49 0.41 31
0.87 0.77 31
0.60 0.47 30
0.72 0.57 30
(0.54)
0.18 0.26 31
0.17 0.22 31
0.44 0.66 26
0.46 0.53 26
P-I mnr
145%
240%
NOTE: Obs is the number of observations and srtXar is the implied steady-state seigniorage-maximizing inflation rate conventionally
measured as in alternative (a) discussed in the text. Standard errors are in parentheses.
oo
oo
105%
103%
oo
oo
192%
oo
78%
67%
227%
127%
172%
254%
294%
127%
278%
oo
175%
oo