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The cost of disinflation in Colombia: -A sacrifice Ratio Approach-

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  • José Daniel REYES PEÑA

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Abstract

The disinflation episode that Colombia has experienced since 1991 has been costly in terms of the output and employment. This paper computes the sacrifice ratio not only for this period but also for each disinflation episode in the Colombian economy since 1957. In order to accomplish the objective mentioned above, a range of methodologies are used to compare the sacrifice ratio estimated for each episode. The results show that the current disinflation episode appears to be not as costly as the previous one, however an explanation of why the sacrifice ratio of the current episode should be calculated since 1997 is proposed.

Suggested Citation

  • José Daniel REYES PEÑA, 2003. "The cost of disinflation in Colombia: -A sacrifice Ratio Approach-," ARCHIVOS DE ECONOMÍA 003579, DEPARTAMENTO NACIONAL DE PLANEACIÓN.
    • Handle: RePEc:col:000118:003579
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    File URL: https://colaboracion.dnp.gov.co/CDT/Estudios%20Econmicos/243.pdf
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    References listed on IDEAS

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    1. Roberto Steiner & Jairo Núñez M. & Ximena Cadena O. & Renata Pardo P., 2002. "¿Cuáles colegios ofrecen mejor educación en Colombia?," COYUNTURA SOCIAL 012943, FEDESARROLLO.
    2. Javier A. Birchenall, 2007. "Income distribution and macroeconomics in Colombia," Journal of Income Distribution, Ad libros publications inc., vol. 16(2), pages 6-24, June.
    3. Castro Carlos Alberto, 2001. "Eficiencia-X en el sector bancario colombiano," REVISTA DESARROLLO Y SOCIEDAD, UNIVERSIDAD DE LOS ANDES-CEDE, September.
    4. Diego F. Angel-Urdinola & Quentin Wodon, 2006. "The Gender Wage Gap and Poverty in Colombia," LABOUR, CEIS, vol. 20(4), pages 721-739, December.
    5. Juan Carlos ECHEVERRY GARZON, 2002. "El siglo del modelo de desarrollo," ARCHIVOS DE ECONOMÍA 002552, DEPARTAMENTO NACIONAL DE PLANEACIÓN.
    6. Ortega, Juan Ricardo & Piraquive, Gabriel Armando & Hernandez, Gustavo Adolfo & Soto, Carolina & Prada, Sergio & Ramirez, Juan Mauricio, 2000. "Incidencia fiscal de los incentivos tributarios
      [Fiscal Incidence of tax incentives]      ," MPRA Paper 14016, University Library of Munich, Germany.
    7. Fernando MESA PARRA, 2001. "Strategic Trade Policy and Exchange Rate Uncertainty," ARCHIVOS DE ECONOMÍA 003527, DEPARTAMENTO NACIONAL DE PLANEACIÓN.
    8. Andrés ESCOBAR ARANGO & Gustavo Adolfo HERNANDEZ & Gabriel PIRAQUIVE & Juan Mauricio RAMIREZ, 2003. "Elementos para el análisis de incidencia tributaria," ARCHIVOS DE ECONOMÍA 002571, DEPARTAMENTO NACIONAL DE PLANEACIÓN.
    9. Francisco Javier LASSO VALDERRAMA, 2002. "Economías de escala en los hogares y pobreza," ARCHIVOS DE ECONOMÍA 002399, DEPARTAMENTO NACIONAL DE PLANEACIÓN.
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    Cited by:

    1. Andrés Gonzalez & Franz Hamann, 2011. "Lack of Credibility, Inflation Persistence and Disinflation in Colombia," REVISTA DESARROLLO Y SOCIEDAD, UNIVERSIDAD DE LOS ANDES-CEDE, May.

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    Keywords

    Sacrifice Ratio;

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