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Inflation, Uncertainty, and Growth in Colombia

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  • Henry Ma
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    Abstract

    It has been argued that higher levels of inflation lead to greater uncertainty about future inflation and to greater dispersion of relative prices. In either case, inflation could reduce the efficiency of market prices in coordinating economic activities. This paper shows that the rise of inflation in Colombia, from low levels in the 1950s to average rates of 18–22 percent since the 1970s, has been accompanied by increased uncertainty and relative price dispersion; and that inflation has had a negative and persistent effect on real GDP growth.

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    Bibliographic Info

    Paper provided by International Monetary Fund in its series IMF Working Papers with number 98/161.

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    Length: 30
    Date of creation: 01 Nov 1998
    Date of revision:
    Handle: RePEc:imf:imfwpa:98/161

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    Cited by:
    1. Marcelo Ochoa & Walter Orellana Rocha, 2002. "Una aproximación no lineal a la relación inflación - crecimiento económico: Un estudio para América Latina," Revista de Análisis del BCB, Banco Central de Bolivia, Banco Central de Bolivia, vol. 5(2), pages 87-126, December.
    2. Sergio Clavijo, 2000. "Reflexiones Sobre Política Monetaria E "Inflación Objetivo" En Colombia," BORRADORES DE ECONOMIA 003423, BANCO DE LA REPÚBLICA.
    3. María Lorena Marí del Cristo & Marta Gómez-Puig, 2012. "“Pass-through in dollarized countries: should Ecuador abandon the U.S. Dollar?”," IREA Working Papers, University of Barcelona, Research Institute of Applied Economics 201216, University of Barcelona, Research Institute of Applied Economics, revised Oct 2012.
    4. Isabel Ruiz, 2005. "Empirical analysis on the real effects of inflation and exchange rate uncertainty: The case of Colombia," International Finance, EconWPA 0511006, EconWPA.
    5. Sergio Clavijo, . "Reflexiones Sobre Política Monetaria e "Inflación Objetivo" en Colombia," Borradores de Economia 141, Banco de la Republica de Colombia.
    6. Sweidan, O.D., 2004. "Does Inflation Harm Economic Growth in Jordan?. An Econometric Analysis for the Period 1970-2000," International Journal of Applied Econometrics and Quantitative Studies, Euro-American Association of Economic Development, Euro-American Association of Economic Development, vol. 1(2), pages 41-66.

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