Why have so many disinflations succeeded?
Why is that the achievements of some disinflations from low and moderate peaks are long-lived, whereas in others the gains in the inflationary front dissipate quickly? Based on an index of the sustainability of disinflations proposed in the paper, various competing explanations of what determines su...
- Autores:
-
Hofstetter Gascón, Marc
- Tipo de recurso:
- Work document
- Fecha de publicación:
- 2005
- Institución:
- Universidad de los Andes
- Repositorio:
- Séneca: repositorio Uniandes
- Idioma:
- eng
- OAI Identifier:
- oai:repositorio.uniandes.edu.co:1992/7974
- Acceso en línea:
- http://hdl.handle.net/1992/7974
- Palabra clave:
- Disinflation
Monetary policy
Supply shocks
Inflation targeting
Exchange
Inflación - Modelos econométricos
Política monetaria
Control de precios
Equilibrio (Economía) - Modelos econométricos
E31, E32, E52, E58, F41
- Rights
- openAccess
- License
- http://creativecommons.org/licenses/by-nc-nd/4.0/
| id |
UNIANDES2_da5888d081c02f502471cc72e985751a |
|---|---|
| oai_identifier_str |
oai:repositorio.uniandes.edu.co:1992/7974 |
| network_acronym_str |
UNIANDES2 |
| network_name_str |
Séneca: repositorio Uniandes |
| repository_id_str |
|
| spelling |
Al consultar y hacer uso de este recurso, está aceptando las condiciones de uso establecidas por los autores.http://creativecommons.org/licenses/by-nc-nd/4.0/info:eu-repo/semantics/openAccesshttp://purl.org/coar/access_right/c_abf2Hofstetter Gascón, Marc87316002018-09-27T16:49:49Z2018-09-27T16:49:49Z20051657-5334http://hdl.handle.net/1992/79741657-719110.57784/1992/7974instname:Universidad de los Andesreponame:Repositorio Institucional Sénecarepourl:https://repositorio.uniandes.edu.co/Why is that the achievements of some disinflations from low and moderate peaks are long-lived, whereas in others the gains in the inflationary front dissipate quickly? Based on an index of the sustainability of disinflations proposed in the paper, various competing explanations of what determines sustainability are tested. Three factors, potentially at the top of the list of many researchers, are shown to be insignificant: oil shocks, fiscal policy and inflation targeting. Nevertheless, other important features such as the exchange rate regime, achieving a low inflation rate during the disinflation and food price shocks are shown to be important variables driving the sustainability records.¿Por qué los logros en algunas desinflaciones son duraderos mientras que en otras los triunfos en el frente inflacionario se disipan con rapidez? En este artículo construimos un índice de sostenibilidad de las desinflaciones y estimamos qué factores lo determinan. Encontramos que el régimen de tasa cambio, lograr una inflación baja y choques a los precios mundiales de alimentos, son de-terminantes significativos de la sostenibilidad de las desinflaciones. Otros factores como la política fiscal, los esquemas de inflación objetivo y los precios del petróleo, resultan menos importantes.33 páginasapplication/pdfengUniversidad de los Andes, Facultad de Economía, CEDEDocumentos CEDE No. 65 Noviembre de 2005https://ideas.repec.org/p/col/000089/003777.htmlWhy have so many disinflations succeeded?¿Por qué ha habido tantas desinflaciones exitosas?Documento de trabajoinfo:eu-repo/semantics/workingPaperhttp://purl.org/coar/resource_type/c_8042http://purl.org/coar/version/c_970fb48d4fbd8a85Texthttps://purl.org/redcol/resource_type/WPDisinflationMonetary policySupply shocksInflation targetingExchangeInflación - Modelos econométricosPolítica monetariaControl de preciosEquilibrio (Economía) - Modelos econométricosE31, E32, E52, E58, F41Facultad de EconomíaPublicationTHUMBNAILdcede2005-65.pdf.jpgdcede2005-65.pdf.jpgIM Thumbnailimage/jpeg20369https://repositorio.uniandes.edu.co/bitstreams/d4bb0b4a-b8cc-4438-960d-58452093b6fd/downloadd04d9bb435d47189239054736cb13e85MD55ORIGINALdcede2005-65.pdfdcede2005-65.pdfapplication/pdf306429https://repositorio.uniandes.edu.co/bitstreams/f4af0734-050e-4c51-83bf-b25c8e7f1a22/downloadff94be7c257c544c38980bb54e22e348MD51TEXTdcede2005-65.pdf.txtdcede2005-65.pdf.txtExtracted texttext/plain63519https://repositorio.uniandes.edu.co/bitstreams/a04e4482-25fe-496f-9b21-59e970c13732/download84c761c19c04154f36cdc61edfe04de0MD541992/7974oai:repositorio.uniandes.edu.co:1992/79742024-06-04 15:49:23.611http://creativecommons.org/licenses/by-nc-nd/4.0/open.accesshttps://repositorio.uniandes.edu.coRepositorio institucional Sénecaadminrepositorio@uniandes.edu.co |
| dc.title.none.fl_str_mv |
Why have so many disinflations succeeded? |
| dc.title.alternative.none.fl_str_mv |
¿Por qué ha habido tantas desinflaciones exitosas? |
| title |
Why have so many disinflations succeeded? |
| spellingShingle |
Why have so many disinflations succeeded? Disinflation Monetary policy Supply shocks Inflation targeting Exchange Inflación - Modelos econométricos Política monetaria Control de precios Equilibrio (Economía) - Modelos econométricos E31, E32, E52, E58, F41 |
| title_short |
Why have so many disinflations succeeded? |
| title_full |
Why have so many disinflations succeeded? |
| title_fullStr |
Why have so many disinflations succeeded? |
| title_full_unstemmed |
Why have so many disinflations succeeded? |
| title_sort |
Why have so many disinflations succeeded? |
| dc.creator.fl_str_mv |
Hofstetter Gascón, Marc |
| dc.contributor.author.none.fl_str_mv |
Hofstetter Gascón, Marc |
| dc.subject.keyword.none.fl_str_mv |
Disinflation Monetary policy Supply shocks Inflation targeting Exchange |
| topic |
Disinflation Monetary policy Supply shocks Inflation targeting Exchange Inflación - Modelos econométricos Política monetaria Control de precios Equilibrio (Economía) - Modelos econométricos E31, E32, E52, E58, F41 |
| dc.subject.armarc.none.fl_str_mv |
Inflación - Modelos econométricos Política monetaria Control de precios Equilibrio (Economía) - Modelos econométricos |
| dc.subject.jel.none.fl_str_mv |
E31, E32, E52, E58, F41 |
| description |
Why is that the achievements of some disinflations from low and moderate peaks are long-lived, whereas in others the gains in the inflationary front dissipate quickly? Based on an index of the sustainability of disinflations proposed in the paper, various competing explanations of what determines sustainability are tested. Three factors, potentially at the top of the list of many researchers, are shown to be insignificant: oil shocks, fiscal policy and inflation targeting. Nevertheless, other important features such as the exchange rate regime, achieving a low inflation rate during the disinflation and food price shocks are shown to be important variables driving the sustainability records. |
| publishDate |
2005 |
| dc.date.issued.none.fl_str_mv |
2005 |
| dc.date.accessioned.none.fl_str_mv |
2018-09-27T16:49:49Z |
| dc.date.available.none.fl_str_mv |
2018-09-27T16:49:49Z |
| dc.type.spa.fl_str_mv |
Documento de trabajo |
| dc.type.coarversion.fl_str_mv |
http://purl.org/coar/version/c_970fb48d4fbd8a85 |
| dc.type.driver.spa.fl_str_mv |
info:eu-repo/semantics/workingPaper |
| dc.type.coar.spa.fl_str_mv |
http://purl.org/coar/resource_type/c_8042 |
| dc.type.content.spa.fl_str_mv |
Text |
| dc.type.redcol.spa.fl_str_mv |
https://purl.org/redcol/resource_type/WP |
| format |
http://purl.org/coar/resource_type/c_8042 |
| dc.identifier.issn.none.fl_str_mv |
1657-5334 |
| dc.identifier.uri.none.fl_str_mv |
http://hdl.handle.net/1992/7974 |
| dc.identifier.eissn.none.fl_str_mv |
1657-7191 |
| dc.identifier.doi.none.fl_str_mv |
10.57784/1992/7974 |
| dc.identifier.instname.spa.fl_str_mv |
instname:Universidad de los Andes |
| dc.identifier.reponame.spa.fl_str_mv |
reponame:Repositorio Institucional Séneca |
| dc.identifier.repourl.spa.fl_str_mv |
repourl:https://repositorio.uniandes.edu.co/ |
| identifier_str_mv |
1657-5334 1657-7191 10.57784/1992/7974 instname:Universidad de los Andes reponame:Repositorio Institucional Séneca repourl:https://repositorio.uniandes.edu.co/ |
| url |
http://hdl.handle.net/1992/7974 |
| dc.language.iso.none.fl_str_mv |
eng |
| language |
eng |
| dc.relation.ispartofseries.none.fl_str_mv |
Documentos CEDE No. 65 Noviembre de 2005 |
| dc.relation.repec.spa.fl_str_mv |
https://ideas.repec.org/p/col/000089/003777.html |
| dc.rights.uri.*.fl_str_mv |
http://creativecommons.org/licenses/by-nc-nd/4.0/ |
| dc.rights.accessrights.spa.fl_str_mv |
info:eu-repo/semantics/openAccess |
| dc.rights.coar.spa.fl_str_mv |
http://purl.org/coar/access_right/c_abf2 |
| rights_invalid_str_mv |
http://creativecommons.org/licenses/by-nc-nd/4.0/ http://purl.org/coar/access_right/c_abf2 |
| eu_rights_str_mv |
openAccess |
| dc.format.extent.none.fl_str_mv |
33 páginas |
| dc.format.mimetype.none.fl_str_mv |
application/pdf |
| dc.publisher.none.fl_str_mv |
Universidad de los Andes, Facultad de Economía, CEDE |
| publisher.none.fl_str_mv |
Universidad de los Andes, Facultad de Economía, CEDE |
| institution |
Universidad de los Andes |
| bitstream.url.fl_str_mv |
https://repositorio.uniandes.edu.co/bitstreams/d4bb0b4a-b8cc-4438-960d-58452093b6fd/download https://repositorio.uniandes.edu.co/bitstreams/f4af0734-050e-4c51-83bf-b25c8e7f1a22/download https://repositorio.uniandes.edu.co/bitstreams/a04e4482-25fe-496f-9b21-59e970c13732/download |
| bitstream.checksum.fl_str_mv |
d04d9bb435d47189239054736cb13e85 ff94be7c257c544c38980bb54e22e348 84c761c19c04154f36cdc61edfe04de0 |
| bitstream.checksumAlgorithm.fl_str_mv |
MD5 MD5 MD5 |
| repository.name.fl_str_mv |
Repositorio institucional Séneca |
| repository.mail.fl_str_mv |
adminrepositorio@uniandes.edu.co |
| _version_ |
1818112082511396864 |