Inflationary Dynamics, Persistence, and Prices and Wages Formation, vol 1

Edited by Laura D'Amato (), Enrique López and Maria Ramirez-Giraldo

in Investigación Conjunta-Joint Research from Centro de Estudios Monetarios Latinoamericanos, CEMLA

Abstract: The articles were divided into three topics: i) inflation persistence; ii) price formation; and iii) wage rigidities. Regarding the first of these, the book includes six papers focusing on identifying general changes in inflation trends, as well as on the degree of inflation persistence. The second topic brings together four papers studying price formation from a macroeconomic viewpoint, using direct surveys of producers, or calculations of frequency and duration using microdata from consumer price indexes or retail points of sale. After analyzing this information, the authors identify the general behavior of producers for setting prices and changes resulting from inflation shocks. The book ends with two articles on wage rigidities, which are also taken from a macroeconomic standpoint. The researchers use individual surveys and surveys aggregated by the type of firm or business sector. This information allows them to identify some relations between wage levels (and their rigidity –degree and direction–) and the average age of workers, the type of firm and the state of the economy, among other factors, in order to obtain information for supporting economic policy decision-making.

Keywords: inflation; inflation targeting; inflationary dynamics; inflationary persistence; models of prices and wages formation; CPI; monetary policy; Hodrick-Prescott filter; Kalman filter; time series; regime switching models; microdata. (search for similar items in EconPapers)
JEL-codes: C19 C22 C24 C32 C43 E24 E31 E52 E58 E64 (search for similar items in EconPapers)
Date: 2013
Edition: 1
ISBN: 978-607-7734-53-6
Note: Disponible versión en español
References: View references in EconPapers View complete reference list from CitEc
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Downloads: (external link)
http://cemla.org/PDF/ic/2013-jrp.pdf (application/pdf)

Chapters in this book:

Ch 1 Introduction , pp 1-8

Laura Inés D’Amato

Ch 2 Regimes and Underlying Inflation Dynamics: Generalized Comovement or Relative Price Adjustment? , pp 9-36

Tomás Castagnino and Laura Inés D’Amato

Ch 3 Inflationary Dynamics and Persistence in Costa Rica: Period 1953-2009 , pp 37-79

Carlos Chaverri Morales and Carlos Torres Gutiérrez

Ch 4 How Persistent is Inflation in Argentina?: Inflation Regimes and Price Dynamics in the Last 50 Years , pp 81-104

Laura Inés D’Amato and Maria Garegnani

Ch 5 The Target of the Central Bank and Inflation Persistence in Colombia , pp 105-126

Juan José Echavarría, Norberto Rodríguez N. and Luis Rojas

Ch 6 The Statistical Persistence of Inflation in Colombia , pp 127-168

Juan José Echavarría S., Enrique López and Martha Misas

Ch 7 Is the Inflation Persistence Over? , pp 169-186

Fernando N. de Oliveira and Myrian Petrassi

Ch 8 Price Formation: Introduction , pp 189-192

Enrique López

Ch 9 Price Setting in Retailing: the Case of Uruguay , pp 193-220

Fernando Borraz, Leandro Zipitria and Enrique López

Ch 10 Price Flexibility in an inflationary Economy: Case Venezuela , pp 221-249

Leon Fernandez Bujanda

Ch 11 Price Formation in Colombian Firms: Evidence Gathered from a Direct Survey , pp 251-321

Martha Misas, Enrique López and Juan Carlos Parra A.

Ch 12 Consumer Price Behavior in Mexico Under Inflation Targeting: A Microdata Approach , pp 323-374

Carla Ysusi

Ch 13 Wage Rigidities: Introduction , pp 337-378

Maria Ramirez-Giraldo

Ch 14 Evidencia microeconómica de rigideces nominales de salarios en Chile , pp 409-433

Marcus Cobb and Luis Opazo

Ch 15 RDownward Wage Rigidities and Other Firms Responses to an Economic Slowdown: Evidence from a Survey of Colombian Firms , pp 403-449

Ana Iregui, Ligia Melo Becerra and Maria Ramirez-Giraldo

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