Advanced Search
MyIDEAS: Login to save this article or follow this journal

¿Qué explica las fluctuaciones de la inflación en el Perú en el periodo 2002-2008? Evidencia de un análisis VAR estructural

Contents:

Author Info

  • Salas, Jorge

Abstract

En este trabajo se realiza un ejercicio de descomposición histórica de la inflación peruana a partir de un modelo VAR estructural identificado con restricciones de largo plazo. Mediante este ejercicio se estima la contribución de distintas fuentes de choques de origen doméstico y externo a la evolución observada de la inflación desde la adopción del régimen de Metas de Inflación en el Perú (2002) hasta el segundo trimestre de 2008. Los resultados indican que los choques domésticos de demanda han sido los más relevantes en la primera parte de la muestra (hasta 2005, aproximadamente), mientras que posteriormente los choques de origen foráneo – asociados a la inflación externa y a los términos de intercambio – han conducido en mayor medida las fluctuaciones inflacionarias.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.bcrp.gob.pe/docs/Publicaciones/Revista-Estudios-Economicos/16/Estudios-Economicos-16-1.pdf
Download Restriction: no

Bibliographic Info

Article provided by Banco Central de Reserva del Perú in its journal Revista Estudios Económicos.

Volume (Year): (2009)
Issue (Month): 16 ()
Pages: 9-36

as in new window
Handle: RePEc:rbp:esteco:ree-16-01

Contact details of provider:
Postal: Jr. Miro Quesada 441, Lima
Phone: 427-6250 ext. 3841
Fax: 426-6125
Web page: http://www.bcrp.gob.pe
More information through EDIRC

Related research

Keywords:

Find related papers by JEL classification:

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. Ilan Goldfajn & Rodrigo O. Valdes, 1996. "The Aftermath of Appreciations," NBER Working Papers 5650, National Bureau of Economic Research, Inc.
  2. Quah, Danny & Vahey, Shaun P, 1995. "Measuring Core Inflation?," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 105(432), pages 1130-44, September.
  3. Jose de Gregorio & Oscar Landerretche & Christopher Neilson, 2007. "Another Pass-Through Bites the Dust? Oil Prices and Inflation," JOURNAL OF LACEA ECONOMIA, LACEA - LATIN AMERICAN AND CARIBBEAN ECONOMIC ASSOCIATION.
  4. Alejandro Justiniano & Bruce Preston, 2009. "Can structural small open economy models account for the influence of foreign disturbances?," Working Paper Series, Federal Reserve Bank of Chicago WP-09-19, Federal Reserve Bank of Chicago.
  5. Frank Smets & Raf Wouters, 2007. "Shocks and Frictions in US Business Cycles : a Bayesian DSGE Approach," Working Paper Research, National Bank of Belgium 109, National Bank of Belgium.
  6. Leonardo Leiderman & Rodolfo Maino & Eric Parrado, 2006. "Inflation Targeting in Dollarized Economies," IMF Working Papers 06/157, International Monetary Fund.
  7. Saki Bigio & Jorge Salas, 2006. "Non-Linear Effects of Monetary Policy and Real Exchange Rate Shocks in Partially Dollarized Economies: An Empirical Study for Peru," Working Papers, Banco Central de Reserva del Perú 2006-008, Banco Central de Reserva del Perú.
  8. Browne, Frank & Cronin, David, 2010. "Commodity prices, money and inflation," Journal of Economics and Business, Elsevier, Elsevier, vol. 62(4), pages 331-345, July.
  9. Ball, L. & Mankiw, G.H., 1992. "Relative-Price Change as Aggregate Supply Shocks," Harvard Institute of Economic Research Working Papers 1609, Harvard - Institute of Economic Research.
  10. Diego Winkelried Quezada, 2005. "Tendencias comunes y análisis de la política monetaria en el Perú," Monetaria, Centro de Estudios Monetarios Latinoamericanos, Centro de Estudios Monetarios Latinoamericanos, vol. 0(3), pages 279-317, julio-sep.
  11. Olivier Jean Blanchard & Danny Quah, 1988. "The Dynamic Effects of Aggregate Demand and Supply Disturbance," Working papers 497, Massachusetts Institute of Technology (MIT), Department of Economics.
  12. repec:ebl:ecbull:v:6:y:2004:i:6:p:1-8 is not listed on IDEAS
  13. Inci Ötker & David Vávra & Francisco F. Vázquez & Luis Ignacio Jácome & Karl Friedrich Habermeier & Kotaro Ishi & Alessandro Giustiniani & Turgut Kisinbay, 2009. "Inflation Pressures and Monetary Policy Options in Emerging and Developing Countries-A Cross Regional Perspective," IMF Working Papers 09/1, International Monetary Fund.
  14. Winkelried, Diego, 2003. "¿Es asimétrico el pass-through en el Perú?: Un análisis agregado," Revista Estudios Económicos, Banco Central de Reserva del Perú, Banco Central de Reserva del Perú, issue 10.
  15. Caballero, Ricardo & Farhi, Emmanuel & Gourinchas, Pierre-Olivier, 2008. "Financial Crash, Commodity Prices and Global Imbalances," CEPR Discussion Papers 7064, C.E.P.R. Discussion Papers.
  16. Barrera Carlos, 2007. "Proyecciones desagregadas de inflación con modelos Sparse VAR robustos," Working Papers, Banco Central de Reserva del Perú 2007-015, Banco Central de Reserva del Perú.
  17. Vallejos, Lucy, 2008. "Precios de los alimentos e inflación," Revista Moneda, Banco Central de Reserva del Perú, issue 137, pages 5-9.
  18. Winkelried, Diego, 2003. "Hacia una meta explícita de inflación: Anticipando la inflación en el Perú," Revista Estudios Económicos, Banco Central de Reserva del Perú, Banco Central de Reserva del Perú, issue 9, pages 11-40.
  19. Bart Hobijn, 2008. "Commodity price movements and PCE inflation," Current Issues in Economics and Finance, Federal Reserve Bank of New York, Federal Reserve Bank of New York, vol. 14(Nov).
  20. Gonzalo Llosa & Vicente Tuesta & Marco Vega, 2006. "A BVAR Forecasting Model for Peruvian Inflation," Money Affairs, Centro de Estudios Monetarios Latinoamericanos, Centro de Estudios Monetarios Latinoamericanos, vol. 0(2), pages 117-141, July-Dece.
  21. Mendoza, Enrique G, 1995. "The Terms of Trade, the Real Exchange Rate, and Economic Fluctuations," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 36(1), pages 101-37, February.
  22. International Monetary Fund, 2009. "Adding Latin America to the Global Projection Model," IMF Working Papers 09/85, International Monetary Fund.
  23. Paul Castillo & Alberto Humala & Vicente Tuesta, 2007. "Monetary Policy, Regime Shifts, and Inflation Uncertainty in Peru (1949-2006)," Working Papers, Banco Central de Reserva del Perú 2007-005, Banco Central de Reserva del Perú.
  24. Castillo, Paul & Montoro, Carlos & Tuesta, Vicente, 2007. "Hechos estilizados de la economía peruana," Revista Estudios Económicos, Banco Central de Reserva del Perú, Banco Central de Reserva del Perú, issue 14, pages 33-75.
Full references (including those not matched with items on IDEAS)

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Cabrera, Nilda & Bejarano, Edilean & Savino Portugal, Marcelo, 2011. "Preferences of the Central Reserve Bank of Peru and optimal monetary policy rules in the inflation targeting regime," Working Papers, Banco Central de Reserva del Perú 2011-010, Banco Central de Reserva del Perú.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:rbp:esteco:ree-16-01. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Departamento de Publicaciones Económicas) The email address of this maintainer does not seem to be valid anymore. Please ask Departamento de Publicaciones Económicas to update the entry or send us the correct address.

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.