Inflación e Incertidumbre Inflacionaria en Chile
The purpose of this paper is to determine whether higher levels of inflation have been accompanied by higher levels of inflationary uncertainty in the Chilean economy. Modem economic theory has stressed the costs of inflationary uncertainty as well as the costs of a higher level of inflation. Moreover, it has been accepted that higher inflation levels and inflationary uncertainty are correlated. T'here are many of studies, with several methodologies that try to prove this hypothesis, specially for the United States. This paper uses a combination of ARIMA and GARCH methodologies in generating the usual conditional mean, as well as the conditional variance of the inflationary process which is a proxy for uncertainty. Once this variable is obtained, we verify, for the Chilean case, that higher levels of inflation have been historically accompanied by more inflationary uncertainty.
|Date of creation:||Oct 1997|
|Contact details of provider:|| Postal: Casilla No967, Santiago|
Phone: (562) 670 2000
Fax: (562) 698 4847
Web page: http://www.bcentral.cl/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:chb:bcchwp:15. 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: (Claudio Sepulveda)
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 references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link 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 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.