Análisis de inflación y base monetaria del Ecuador en el periodo 2015-2020.

Abstract

The quantity theory of money analyzes inflation in conjunction with the monetary base proposed by Milton Friedman and Irving Fisher, since it studies the importance of the value of money in the face of different price changes that exist in the economy. In this sense, the objective of the research is to know the causality of inflation based on the monetary base of Ecuador during the period 2015-2020 through the cointegration mechanism, with monthly data obtained from the Central Bank of Ecuador. The results showed a long-term equilibrium relationship between the study variables, concluding with a positive relationship between inflation and the monetary base, thus demonstrating the veracity of the quantitative theory of money for the present investigation, since in the face of a change in the monetary base will generate variations in the level of inflation.