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Expectativas y prima por riesgo inflacionario bajo una medida de compensación a la inflación

In: Formación de precios y salarios en Colombia T.2

Author

Listed:
  • Melo-Velandia, Luis Fernando
  • Granados-Castro, Joan Camilo

Abstract

En este documento se estima una medida de compensación inflacionaria (Break Even Inflation) usando los rendimientos de los TES en pesos y de los TES indexados a la UVR para el período comprendido entre enero de 2003 y noviembre de 2009. Esta medida se descompone en expectativas de inflación y prima por riesgo inflacionario. Con el objeto de mejorar los pronósticos, este modelo incorpora las expectativas de inflación a 12 meses de la encuesta mensual del Banco de la República.

Suggested Citation

  • Melo-Velandia, Luis Fernando & Granados-Castro, Joan Camilo, 2011. "Expectativas y prima por riesgo inflacionario bajo una medida de compensación a la inflación," Chapters, in: López Enciso, Enrique & Ramírez Giraldo, María Teresa (ed.), Formación de precios y salarios en Colombia T.2, volume 2, chapter 14, pages 523-549, Banco de la Republica de Colombia.
    • Handle: RePEc:bdr:bdrcap:2011b-04-523-549
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    File URL: https://repositorio.banrep.gov.co/bitstream/handle/20.500.12134/365/CL_14.pdf
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    Citations

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    Cited by:

    1. Andrés Felipe Londoño & Jorge Andrés Tamayo & Carlos Alberto Velásquez, 2012. "Dinámica de la política monetaria e inflación objetivo en Colombia: una aproximación FAVAR," Revista ESPE - Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 30(68), pages 14-71, June.
    2. Carrillo Julio A. & Elizondo Rocío & Rodríguez-Pérez Cid Alonso & Roldán-Peña Jessica, 2018. "What Determines the Neutral Rate of Interest in an Emerging Economy?," Working Papers 2018-22, Banco de México.
    3. Aguilar-Argaez Ana María & Elizondo Rocío & Roldán-Peña Jessica, 2016. "Break-Even-Inflation's Decomposition in Mexico," Working Papers 2016-22, Banco de México.
    4. Elizondo Rocío, 2023. "The Three Intelligible Factors of the Yield Curve in Mexico," Working Papers 2023-13, Banco de México.

    More about this item

    Keywords

    Prima de riesgo; Compensaciones; Encuestas; Precios; Colombia; Risk premium; Compensations; Surveys; Prices; Colombia;
    All these keywords.

    JEL classification:

    • P44 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - National Income, Product, and Expenditure; Money; Inflation
    • D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations
    • R42 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Government and Private Investment Analysis; Road Maintenance; Transportation Planning

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