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Algunos Criterios Para Evaluar Una Meta De Inflación De Largo Plazo

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Martha López ()

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Abstract

Uno de los hechos estilizados más recientes alrededor del mundo es que, después de varias décadas, se está convergiendo a una inflación baja y estable. Algunos países ya llegaron a su estado estacionario en este sentido y otros aún están en proceso de desinflación. Dado que la inflación inflinge costos en el bienestar de los agentes y frena el crecimiento económico de largo plazo, este es uno de los logros más importantes de las autoridades monetarias. No obstante, en el corto plazo el proceso desinflacionario puede tener impacto negativo sobre el producto y el empleo. Este trabajo presenta algunos criterios que son relevantes en la determinación del nivel de inflación de largo plazo y cómo el régimen de política monetaria de Inflación-objetivo permite disminuir los costos asociados al proceso desinflacionario en la medida que la política monetaria gana credibilidad.

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Paper provided by BANCO DE LA REPÚBLICA in its series BORRADORES DE ECONOMIA with number 001967.

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Length: 27
Date of creation: 01 Mar 2006
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Handle: RePEc:col:000094:001967

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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.:
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  4. Moulton, Brent R, 1996. "Bias in the Consumer Price Index: What Is the Evidence?," Journal of Economic Perspectives, American Economic Association, vol. 10(4), pages 159-77, Fall. [Downloadable!] (restricted)
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  7. Barro, Robert J & Gordon, David B, 1983. "A Positive Theory of Monetary Policy in a Natural Rate Model," Journal of Political Economy, University of Chicago Press, vol. 91(4), pages 589-610, August. [Downloadable!] (restricted)
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  8. Carlos Esteban Posada P., 2004. "El costo de la inflación (con racionalidad y previsión perfectas)," Macroeconomics 0411013, EconWPA. [Downloadable!]
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  10. Oscar Landerretche & Vittorio Corbo & Klaus Schmidt-Hebbel, 2001. "Does Inflation Targeting Make a Difference," Working Papers Central Bank of Chile 106, Central Bank of Chile. [Downloadable!]
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  12. Gillman, Max, 1993. "The welfare cost of inflation in a cash-in-advance economy with costly credit," Journal of Monetary Economics, Elsevier, vol. 31(1), pages 97-115, February. [Downloadable!] (restricted)
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  14. Laurence Ball, 1993. "How costly is disinflation? The historical evidence," Business Review, Federal Reserve Bank of Philadelphia, issue Nov, pages 17-28. [Downloadable!]
  15. José De Gregorio, 1998. "Sobre los determinantes de la inflación y sus costos," Documentos de Trabajo 44, Centro de Economía Aplicada, Universidad de Chile. [Downloadable!]
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  16. Luis F. Céspedes & Claudio Soto, 2005. "Credibility and Inflation Targeting in an Emerging Market: The Case of Chile," Working Papers Central Bank of Chile 312, Central Bank of Chile. [Downloadable!]
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Cited by:
(explanations, 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.)

  1. Javier Gómez Pineda, . "La Política Monetaria en Colombia," Borradores de Economia 394, Banco de la Republica de Colombia. [Downloadable!]
  2. Javier Guillermo Gómez, 2006. "La Política Monetaria En Colombia," BORRADORES DE ECONOMIA 003054, BANCO DE LA REPÚBLICA. [Downloadable!]
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