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Inflationary Dynamics, Persistence, and Prices and Wages Formation

Editor

Listed:
  • Laura Inés D'Amato
    (Banco Central de la República Argentina)

  • Enrique López Enciso
    (Banco de la República, Colombia)

  • María Teresa Ramírez Giraldo
    (Banco de la República, Colombia)

Abstract

The articles were divided into three topics: i) inflation persistence; ii) price formation; and iii) wage rigidities. Regarding the first of these, the book includes six papers focusing on identifying general changes in inflation trends, as well as on the degree of inflation persistence. The second topic brings together four papers studying price formation from a macroeconomic viewpoint, using direct surveys of producers, or calculations of frequency and duration using microdata from consumer price indexes or retail points of sale. After analyzing this information, the authors identify the general behavior of producers for setting prices and changes resulting from inflation shocks. The book ends with two articles on wage rigidities, which are also taken from a macroeconomic standpoint. The researchers use individual surveys and surveys aggregated by the type of firm or business sector. This information allows them to identify some relations between wage levels (and their rigidity –degree and direction–) and the average age of workers, the type of firm and the state of the economy, among other factors, in order to obtain information for supporting economic policy decision-making.

Individual chapters are listed in the "Chapters" tab

Suggested Citation

  • Laura Inés D'Amato & Enrique López Enciso & María Teresa Ramírez Giraldo (ed.), 2013. "Inflationary Dynamics, Persistence, and Prices and Wages Formation," Investigación Conjunta-Joint Research, Centro de Estudios Monetarios Latinoamericanos, CEMLA, edition 1, volume 1, number 2en, December.
    • Handle: RePEc:cml:incoes:2en
    Note: Disponible versión en español
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    References listed on IDEAS

    as
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    Book Chapters

    The following chapters of this book are listed in IDEAS

    More about this item

    Keywords

    inflation; inflation targeting; inflationary dynamics; inflationary persistence; models of prices and wages formation; CPI; monetary policy; Hodrick-Prescott filter; Kalman filter; time series; regime switching models; microdata.;
    All these keywords.

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E64 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Incomes Policy; Price Policy
    • C19 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Other
    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • C24 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Truncated and Censored Models; Switching Regression Models; Threshold Regression Models
    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation

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