Advanced Search
MyIDEAS: Login to save this paper or follow this series

Dinámica de la inflación y el canal de costos: Una aplicación para Chile

Contents:

Author Info

  • David Coble

Abstract

La importancia de los mecanismos de transmisión de la política monetaria hacen imprescindible un estudio acabado de los posibles canales por los que pueda influir el instrumento utilizado. El mecanismo tradicional de transmisión es aquel en el que un aumento de la tasa de interés busca disminuir las presiones de precios por el lado de la demanda. No obstante lo anterior, existe otro posible canal relevante de transmisión de política monetaria: el canal de costos. Un aumento del interés nominal afecta la función de costos de empresas que se endeudan para pagar a sus trabajadores. De esta manera, el efecto de un incremento de la tasa de interés sobre la dinámica de precios iría en el sentido contrario al señalado por el canal tradicional de política monetaria. El propósito de este trabajo es estimar la curva de Phillips para el caso chileno, y verificar si el canal de costos afecta la dinámica de la inflación. Los resultados sugieren que dicho canal no sería relevante en Chile y que, en caso de existir, sería cuantitativamente pequeño.

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.econ.uchile.cl/uploads/publicacion/df3b40f4-a74c-4e9d-92a4-ce3b30aefb5c.pdf
Download Restriction: no

Bibliographic Info

Paper provided by University of Chile, Department of Economics in its series Working Papers with number wp274.

as in new window
Length:
Date of creation: Jan 2008
Date of revision:
Handle: RePEc:udc:wpaper:wp274

Contact details of provider:
Web page: http://www.econ.uchile.cl/
More information through EDIRC

Related research

Keywords: Transmisión política monetaria; canal de costos; dinámica de la inflación.;

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. Gali, Jordi & Gertler, Mark, 1999. "Inflation dynamics: A structural econometric analysis," Journal of Monetary Economics, Elsevier, vol. 44(2), pages 195-222, October.
  2. Chowdhury, Ibrahim & Hoffmann, Mathias & Schabert, Andreas, 2006. "Inflation dynamics and the cost channel of monetary transmission," European Economic Review, Elsevier, vol. 50(4), pages 995-1016, May.
  3. Lawrence J. Christiano & Martin Eichenbaum & Charles Evans, 2001. "Nominal Rigidities and the Dynamic Effects of a Shock to Monetary Policy," NBER Working Papers 8403, National Bureau of Economic Research, Inc.
  4. Richard Clarida & Jordi Galí & Mark Gertler, 1997. "The science of monetary policy: A new Keynesian perspective," Economics Working Papers 356, Department of Economics and Business, Universitat Pompeu Fabra, revised Apr 1999.
  5. Jordi Gali & Mark Gertler & J. David Lopez-Salido, 2001. "European Inflation Dynamics," NBER Working Papers 8218, National Bureau of Economic Research, Inc.
  6. Blanchard, Olivier Jean & Kahn, Charles M, 1980. "The Solution of Linear Difference Models under Rational Expectations," Econometrica, Econometric Society, vol. 48(5), pages 1305-11, July.
  7. Ravenna, Federico & Walsh, Carl E., 2006. "Optimal monetary policy with the cost channel," Journal of Monetary Economics, Elsevier, vol. 53(2), pages 199-216, March.
  8. Marvin J. Barth III & Valerie A. Ramey, 2000. "The Cost Channel of Monetary Transmission," NBER Working Papers 7675, National Bureau of Economic Research, Inc.
  9. Sbordone, A.M., 1998. "Prices and Unit Labor Costs: a New Test of Price Stickiness," Papers 653, Stockholm - International Economic Studies.
  10. Calvo, Guillermo A., 1983. "Staggered prices in a utility-maximizing framework," Journal of Monetary Economics, Elsevier, vol. 12(3), pages 383-398, September.
Full references (including those not matched with items on IDEAS)

Citations

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:udc:wpaper:wp274. 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: (Federico Huneeus).

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.