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Política Monetaria Y La Corte Constitucional: El Caso Del Salario Mínimo

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  • Marc Hofstetter

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Abstract

En 1999 la Corte Constitucional determinó que los incrementos en el salario mínimo no debían hacerse por debajo de la inflación pasada. En este artículo exploramos el impacto de esta decisión sobre la efectividad de la política monetaria. En el marco de un modelo macroeconómico sencillo, se muestra que obligar a los agentes a ajustar el salario teniendo en cuenta los precios pasados, implica que la política monetaria tiene un mayor efecto sobre la actividad real y genera una persistencia más alta de la inflación. Estos resultados se cumplen aun bajo los supuestos clásicos más tradicionales: expectativas racionales, perfecta credibilidad y ajustes sincronizados de los precios.

Suggested Citation

  • Marc Hofstetter, 2005. "Política Monetaria Y La Corte Constitucional: El Caso Del Salario Mínimo," DOCUMENTOS CEDE 003338, UNIVERSIDAD DE LOS ANDES-CEDE.
  • Handle: RePEc:col:000089:003338
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    File URL: http://economia.uniandes.edu.co/publicaciones/d2005-36.pdf
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    References listed on IDEAS

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    Cited by:

    1. Sonia A. Agudelo & Hector Sala, 2016. "Wage setting in the Colombian manufacturing industry," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 24(1), pages 99-134, January.
    2. Agudelo, Sonia A. & Sala, Hector, 2017. "Wage Rigidities in Colombia: Measurement, Causes, and Policy Implications," IZA Discussion Papers 10669, Institute for the Study of Labor (IZA).

    More about this item

    Keywords

    Política monetaria;

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

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