IDEAS home Printed from https://ideas.repec.org/a/col/000107/013845.html
   My bibliography  Save this article

Nicaragua: inflación de umbral, crecimiento económico y la nueva política monetaria después de la crisis internacional

Author

Listed:
  • Rolando Gonzales Martínez

    ()

Abstract

Después de la crisis internacional se sugirió elevar las metas de inflación para dar más espacio a la política monetaria durante épocas contractivas del producto. Este estudio propone que el límite para elevar la meta de inflación debería ser el umbral de inflación, definido como aquel por encima del que la variación de precios es perjudicial para el crecimiento económico. Para estimar este umbral se proponen métodos Bayesianos. Los resultados muestran que encima del umbral existe una relación negativa y estadísticamente significativa entre la inflación y las variaciones del producto. ****** After the international crisis, it was suggested that inflation targets should be raised in order to allow more space to monetary policies during contractionary product times. The present study proposes that the limit to raise the inflation target should be threshold inflation, defined as the rate above which price variability is detrimental to economic growth. Bayesian methods are proposed to estimate this threshold. Results suggest that over the threshold there is a negative and statistically significant relationship between inflation and variations in the product.

Suggested Citation

  • Rolando Gonzales Martínez, 2015. "Nicaragua: inflación de umbral, crecimiento económico y la nueva política monetaria después de la crisis internacional," Revista ESPE - Ensayos Sobre Política Económica, Banco de la República - ESPE, vol. 33(76), pages 31-43, April.
  • Handle: RePEc:col:000107:013845
    as

    Download full text from publisher

    File URL: http://repositorio.banrep.gov.co/bitstream/handle/20.500.12134/6515/?sequence=1
    Download Restriction: no

    Other versions of this item:

    More about this item

    Keywords

    Métodos bayesianos; Umbral de inflación; Políticas de la Banca Central;

    JEL classification:

    • C11 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Bayesian Analysis: General
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:col:000107:013845. 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: (Espe). General contact details of provider: .

    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.

    We have no references for this item. You can help adding them by using 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 RePEc Author Service 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.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.