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Relative price and inflation uncertainty in Colombia: A case of chronic moderate inflation 1970-1990

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  • Clavijo, Sergio

    (Office of the Ministry of Finance of Colombia)

Abstract

This study explores two aspects of Colombian chronic but moderate inflation experience during the period 1970 1990. Based on time series analysis, the study suggests that the policy to increase relative price of energy products be complemented with expenditure reducing mechanisms to avoid the validation of higher price pressures stemming from other sectors. Moreover, it recommends efforts to dismantle indexation mechanisms, which make it difficult to reduce inflation.

Suggested Citation

  • Clavijo, Sergio, 1994. "Relative price and inflation uncertainty in Colombia: A case of chronic moderate inflation 1970-1990," Estudios Económicos, El Colegio de México, Centro de Estudios Económicos, vol. 9(1), pages 119-136.
  • Handle: RePEc:emx:esteco:v:9:y:1994:i:1:p:119-136
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    File URL: http://estudioseconomicos.colmex.mx/archivo/EstudiosEconomicos1994/119-136.pdf
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    1. Carmen M. Reinhart & Vincent R. Reinhart, 1991. "Output Fluctuations and Monetary Shocks: Evidence from Colombia," IMF Staff Papers, Palgrave Macmillan, vol. 38(4), pages 705-735, December.
    2. Kiguel, Miguel A & Liviatan, Nissan, 1988. "Inflationary Rigidities and Orthodox Stabilization Policies: Lessons from Latin America," World Bank Economic Review, World Bank Group, vol. 2(3), pages 273-298, September.
    3. Engle, Robert F, 1982. "Autoregressive Conditional Heteroscedasticity with Estimates of the Variance of United Kingdom Inflation," Econometrica, Econometric Society, vol. 50(4), pages 987-1007, July.
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