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High Inflation, Volatility and Total Factor Productivity

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  • Nelson Ramírez / Juan Aquino

Abstract

Este trabajo intenta evaluar empíricamente la relación entre altos niveles de inflación (definida como la inflación mayor de dos dígitos), volatilidad de la inflación (definida como la desviación estándar de la inflación) y el crecimiento de la productividad total de los factores (TFP). Utilizando la metodología de estimación de método generalizado de momentos (GMM) desarrollado por Arellano y Bond (1991) y extendido por Arellano y Bover (1995) en un contexto de datos de panel dinámico, para el período de 1960 a 2000 y para dieciocho países de América Latina, encontramos una relación negativa entre altos niveles de inflación con el crecimiento de la TFP, y entre la volatilidad de la inflación con el crecimiento de la TFP, mientras que no encontramos una relación entre bajos niveles de inflación y el crecimiento de la TFP.

Suggested Citation

  • Nelson Ramírez / Juan Aquino, 2004. "High Inflation, Volatility and Total Factor Productivity," Econometric Society 2004 Latin American Meetings 297, Econometric Society.
    • Handle: RePEc:ecm:latm04:297
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    References listed on IDEAS

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    More about this item

    Keywords

    Inflación; productividad total de los factores; datos de panel dinámico;
    All these keywords.

    JEL classification:

    • C54 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Quantitative Policy Modeling

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