The cost of disinflation in Colombia: -A sacrifice Ratio Approach-

José-Daniel Reyes

No 3579, Archivos de Economía from Departamento Nacional de Planeación

Abstract: The disinflation episode that Colombia has experienced since 1991 has been costly in terms of the output and employment. This paper computes the sacrifice ratio not only for this period but also for each disinflation episode in the Colombian economy since 1957. In order to accomplish the objective mentioned above, a range of methodologies are used to compare the sacrifice ratio estimated for each episode. The results show that the current disinflation episode appears to be not as costly as the previous one, however an explanation of why the sacrifice ratio of the current episode should be calculated since 1997 is proposed.

Keywords: Sacrifice; Ratio (search for similar items in EconPapers)
Pages: 28
Date: 2003-11-13
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:col:000118:003579

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