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Inflation Regimes And Retail Price Dynamics. An Empirical Study For Argentina

Author

Listed:
  • Juan Manuel Costa

    (Emerging Markets Information Service)

  • Ariel Ruffo

    (Banco Central de la República Argentina)

Abstract

This working paper analyze the dynamic behavior of retail prices in the Argentine economy during the period 1957-2017. For this purpose, a model of autoregressive vectors with structural breaks was estimated, following the methodology proposed by (Balke, 2000), based on a set of variables that impact the price formation process for the different inflationary regimes identified in the considered period. The analysis of the sensitivity of retail inflation rates to unexpected fluctuations in these variables indicates that there would be a non-linear behavior (twelve months horizon) in the transmission of the shocks recorded on the variables of the model for the three identified regimes.

Suggested Citation

  • Juan Manuel Costa & Ariel Ruffo, 2019. "Inflation Regimes And Retail Price Dynamics. An Empirical Study For Argentina," Revista de Economía Política de Buenos Aires, Universidad de Buenos Aires. Facultad de Ciencias Económicas., issue 18, pages 9-49, June.
    • Handle: RePEc:ake:repba1:y:2019:i:18:p:9-49
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    More about this item

    Keywords

    economic cycle; prices; pass-trough; non-linearity; inflationary regimes;
    All these keywords.

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • L62 - Industrial Organization - - Industry Studies: Manufacturing - - - Automobiles; Other Transportation Equipment; Related Parts and Equipment
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology

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