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INFLACIÓN E INCERTIDUMBRE INFLACIONARIA EN PAÍSES SELECTOS DE AMÉRICA LATINA.
- Source :
-
Problemas del Desarrollo. Revista Latinoamericana de Economía . jul-sep2019, Vol. 50 Issue 198, p113-144. 32p. - Publication Year :
- 2019
-
Abstract
- This paper studies the feedback relation between inflation and inflation uncertainty in six Latin American economies during 1960-2018. Uncertainty was calculated using conditional volatility, estimated using GJR-GARCH-M models. The main conclusions are as follows: the majority of economies conformed to the Friedman-Ball hypothesis; the Cukierman-Meltzer hypothesis was corroborated in the cases of Bolivia, Mexico, Paraguay; positive shocks were found to have a significant impact on inflation uncertainty, and, thanks to the adoption of inflation targets (ITs) by governments, there was empirical evidence that volatility decreased in those economies which implemented ITs. [ABSTRACT FROM AUTHOR]
Details
- Language :
- Spanish
- ISSN :
- 03017036
- Volume :
- 50
- Issue :
- 198
- Database :
- Academic Search Index
- Journal :
- Problemas del Desarrollo. Revista Latinoamericana de Economía
- Publication Type :
- Academic Journal
- Accession number :
- 138169081
- Full Text :
- https://doi.org/10.22201/iiec.20078951e.2019.198.64822