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Los costos asociados al proceso desinflacionario


  • Sánchez, Óscar

    (Dirección General de Investigación Económica, Banco de México)

  • Seade, Juan

    (Dirección General de Investigación Económica, Banco de México)

  • Werner, Alejandro

    (Dirección General de Investigación Económica, Banco de México)


In this study we analyze the empirical regularities of the desinflationary processes implemented in different countries during the period 1970-1998. In order to revert inflationary tendencies the monetary authority must implement restrictive monetary policies, which raise the real rate and appreciate the real exchange rate, affecting the rate of economic growth. The analysis focuses on the determinants of the costs associated with the reduction of the rate inflation. We also present a model that attempts to capture the elements relevant in the disinflationary process and the costs associated with it.// Este trabajo es resultado de un estudio de las regularidades empíricas de los procesos desinflacionarios implantados en distintos países durante el periodo de 1970-1998. Para revertir las tendencias inflacionarias la autoridad monetaria debe aplicar políticas monetarias restrictivas; estas polìticas aumentan la tasa de interés real y aprecian el tipo de cambio real, lo que afecta la tasa de crecimiento de la economía.El análisis de este trabajo se enfoca en identificar los determinantes de los costos asociados a la reducción en la tasa inflación. Se presenta además un modelo macroeconómico que intenta captar los elementos relevantes del proceso desinflacionario y sus costos asociados.

Suggested Citation

  • Sánchez, Óscar & Seade, Juan & Werner, Alejandro, 2001. "Los costos asociados al proceso desinflacionario," El Trimestre Económico, Fondo de Cultura Económica, vol. 0(270), pages 157-194, abril-jun.
  • Handle: RePEc:elt:journl:v:68:y:2001:i:270:p:157-194

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    Cited by:

    1. Hofstetter, Marc, 2008. "Disinflations in Latin America and the Caribbean: A free lunch?," Journal of Macroeconomics, Elsevier, vol. 30(1), pages 327-345, March.

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