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Crisis de inflación y productividad total de los factores en Latinoamérica

  • Ramírez Rondán, Nelson
  • Aquino, Juan Carlos

En este trabajo se analizan los efectos de largo plazo de periodos de crisis de inflación sobre el crecimiento de la Productividad Total de los Factores (PTF) para 18 países de Latinoamérica durante el periodo de 1961 al 2000, utilizando la metodología de estimación de Método Generalizado de Momentos (GMM) en un modelo de datos de panel dinámico. Los resultados muestran efectos no lineales de la inflación sobre el crecimiento de la PTF, en el sentido de que periodos de altos niveles de inflación han tenido efectos negativos sobre el crecimiento la productividad (consistente con los modelos de crecimiento endógeno), mientras que periodos de bajos niveles de inflación parecen no tener efectos permanentes (tal como predice la teoría monetaria).También, encontramos efectos negativos de la volatilidad de la inflación sobre el crecimiento de la productividad. Cabe mencionar que estos resultados son robustos a una serie de variables de control, como por ejemplo choques de oferta, apertura comercial y carga del gobierno.

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Article provided by Banco Central de Reserva del Perú in its journal Revista Estudios Económicos.

Volume (Year): (2006)
Issue (Month): 13 ()
Pages:

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Handle: RePEc:rbp:esteco:ree-13-03
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