IDEAS home Printed from https://ideas.repec.org/p/bdr/borrec/136.html
   My bibliography  Save this paper

La Inflación Básica en Colombia: Evaluación de Indicadores Alternativos

Author

Listed:
  • C. Felipe Jaramillo y Otros

Abstract

El objetivo de este trabajo es describir y evaluar indicadores de inflación básica utilizados por el Banco de la República (inflación sin alimento, inflación sin alimentos y servicios públicos y transporte, media truncada al 20% y mediana) y otros alternativos (inflación núcleo, media truncada y mediana a diferentes niveles de truncamiento, media asimétrica y filtro de Hodrick y Prescott). La evaluación se sustenta en diversos criterios estadísticos - variabilidad, insesgamiento, desviación con respecto a la inflación suavizada, capacidad de pronóstico y relación con agregados monetarios - que reflejan las propiedades deseables de cualquier indicador de inflación básica. Los resultados de este ejercicio muestran que la mayoría de los indicadores evaluados resultan ser medidas adecuadas de la inflación de demanda. Aún asi, se encontró que la inflación núcleo para varios niveles de truncamiento es particularmente adecuada al satisfacer la totalidad de los criterios estadísticos utilizados. Algo similar se puede decir de la media asimétrica y de la media truncada al 10%.Por el contrario, el IPC sin alimentos y el IPC sin alimentos, servicios públicos y transporte resultaron ser pobres indicadores de la inflación básica.

Suggested Citation

  • C. Felipe Jaramillo y Otros, 1999. "La Inflación Básica en Colombia: Evaluación de Indicadores Alternativos," Borradores de Economia 136, Banco de la Republica de Colombia.
  • Handle: RePEc:bdr:borrec:136
    as

    Download full text from publisher

    File URL: http://www.banrep.gov.co/docum/ftp/borra136.pdf
    Download Restriction: no

    References listed on IDEAS

    as
    1. Brent R. Moulton, 1996. "Bias in the Consumer Price Index: What Is the Evidence?," Journal of Economic Perspectives, American Economic Association, vol. 10(4), pages 159-177, Fall.
    2. Quah, Danny & Vahey, Shaun P, 1995. "Measuring Core Inflation?," Economic Journal, Royal Economic Society, vol. 105(432), pages 1130-1144, September.
    3. Michael F. Bryan & Stephen G. Cecchetti, 1994. "Measuring Core Inflation," NBER Chapters,in: Monetary Policy, pages 195-219 National Bureau of Economic Research, Inc.
    4. Michael F. Bryan & Christopher J. Pike, 1991. "Median price changes: an alternative approach to measuring current monetary inflation," Economic Commentary, Federal Reserve Bank of Cleveland, issue Dec.
    5. Frederic S. Mishkin & Adam S. Posen, 1997. "Inflation targeting: lessons from four countries," Economic Policy Review, Federal Reserve Bank of New York, issue Aug, pages 9-110.
    6. Scott Roger, 1998. "Core inflation: concepts, uses and measurement," Reserve Bank of New Zealand Discussion Paper Series G98/9, Reserve Bank of New Zealand.
    7. Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, vol. 12(2-3), pages 231-254.
    8. Stephen G. Cecchetti, 1997. "Measuring short-run inflation for central bankers," Review, Federal Reserve Bank of St. Louis, issue May, pages 143-155.
    9. N. Gregory Mankiw, 1994. "Monetary Policy," NBER Books, National Bureau of Economic Research, Inc, number greg94-1.
    Full references (including those not matched with items on IDEAS)

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    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:bdr:borrec:136. 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: (Clorith Angélica Bahos Olivera). General contact details of provider: http://edirc.repec.org/data/brcgvco.html .

    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.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with 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.