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Inflación Internacional Relevante para Costa Rica

Relevant International Inflation for Costa Rica

Jorge Leon, Carlos Segura-Rodríguez () and Jose Pablo Vasquez

MPRA Paper from University Library of Munich, Germany

Abstract: This document analyzes different measures of international inflation and their influence on the domestic inflation. We found that these measurements have a statistical significant effect on the behavior of domestic inflation. Therefore the evolution of the international inflation must be considered when assessing the inflation target stated by monetary authority. The international inflation calculated using the weight of exports to different markets is the most relevant international inflation both in levels and in differences for the case of Costa Rica. Another element that the Central Bank should take into account when setting its inflation target is the fact that for the period 2001-2010 the different relevant measures of international inflation for Costa Rica lie in the range of 3% and 4%.

Keywords: Inflation; Correlation; International Inflation (search for similar items in EconPapers)
JEL-codes: C12 C43 E31 (search for similar items in EconPapers)
Date: 2011, Revised 2011
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Handle: RePEc:pra:mprapa:44497