INFLATION REGIMES AND RETAIL PRICE DYNAMICS. AN EMPIRICAL STUDY FOR ARGENTINA

Juan Manuel Costa () and Ariel Ruffo ()
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Juan Manuel Costa: Emerging Markets Information Service
Ariel Ruffo: Banco Central de la República Argentina

Revista de Economía Política de Buenos Aires, 2019, issue 18, 9-49

Abstract: This working paper analyze the dynamic behavior of retail prices in the Argentine economy during the period 1957-2017. For this purpose, a model of autoregressive vectors with structural breaks was estimated, following the methodology proposed by (Balke, 2000), based on a set of variables that impact the price formation process for the different inflationary regimes identified in the considered period. The analysis of the sensitivity of retail inflation rates to unexpected fluctuations in these variables indicates that there would be a non-linear behavior (twelve months horizon) in the transmission of the shocks recorded on the variables of the model for the three identified regimes.

Keywords: economic cycle; prices; pass-trough; non-linearity; inflationary regimes (search for similar items in EconPapers)
JEL-codes: F15 L62 O14 (search for similar items in EconPapers)
Date: 2019
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