EconPapers    
Economics at your fingertips  
 

Inflation and relative price variability in Venezuela

José Contreras () and Nora Guarata ()
Additional contact information
José Contreras: Oficina de Investigaciones Económicas, Banco Central de Venezuela. Carmelitas Caracas, Venezuela.
Nora Guarata: Oficina de Investigaciones Económicas, Banco Central de Venezuela. Carmelitas Caracas, Venezuela.

Economía, 2013, vol. 38, issue 36, 85-122

Abstract: There are several theories about the causes of inflation but none of them is capable of explaining the phenomenon in all cases. We started with an overview of the main theories. In the particular case of Venezuela, it seems that the inflationary phenomenon responds to structural factors rather than circumstantial ones. We utilized three variables that measure relative price distribution and tested for their relation with inflation. Later we used a modified Phillips curve, which included exchange rate as an explanatory variable and regressed it with and without the variables relating relative price distribution: variance, skewness and a combination of both. We concluded that those variables helped explain inflation in Venezuela for the period we studied.

Keywords: Inflation; Phillips curve; relative price distribution. (search for similar items in EconPapers)
JEL-codes: C12 C22 E31 (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations Track citations by RSS feed

Downloads: (external link)
ftp://iies.faces.ula.ve/Pdf/Revista36/Rev36Contreras.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ula:econom:v:38:y:2013:i:36:p:85-122

Access Statistics for this article

Economía is currently edited by Alberto José Hurtado and Sadcidi M. Zerpa de Hurtado

More articles in Economía from Instituto de Investigaciones Económicas y Sociales (IIES). Facultad de Ciencias Económicas y Sociales. Universidad de Los Andes. Mérida, Venezuela Facultad de Ciencias Económicas y Sociales. Instituto de Investigaciones Económicas y Sociales. Campus Universitario Liria, Edificio G, Tercer Nivel. Mérida 5101, Estado Mérida, Venezuela. Contact information at EDIRC.
Series data maintained by Alexis Vásquez ().

 
Page updated 2017-09-29
Handle: RePEc:ula:econom:v:38:y:2013:i:36:p:85-122