Productivity Growth and Disinflation in Chile

Jose De Gregorio

No 10360, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: This paper analyzes the role productivity growth had on disinflation in Chile during the 1990s. It argues that productivity growth was key in avoiding the output costs of stabilization in a highly indexed economy. Disinflation from the early 1990s through 1998 was costless. Among the many external and domestic factors that contributed to good macroeconomic performance, which combined simultaneously very high rates of growth and declining inflation, productivity stands high. The simulations presented in this paper illustrate this point.

JEL-codes: E31 E52 (search for similar items in EconPapers)
Date: 2004-03
New Economics Papers: this item is included in nep-dev
Note: IFM
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Citations: View citations in EconPapers (5)

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Working Paper: Productivity Growth and Disinflation in Chile (2003)
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