La inconsistencia temporal y la inflación: evidencias empíricas para la economía colombiana

• Juan Camilo Galvis Ciro ^[1]
  1. [1] Universidad Pontificia Bolivariana

     Universidad Pontificia Bolivariana

     Colombia

     
• Localización: Ensayos de economía, ISSN 0121-117X, Vol. 28, Nº. 52, 2018, págs. 63-76
• Idioma: español
• DOI: 10.15446/ede.v28n52.71748
• Títulos paralelos:
  • Time-Inconsistency and Inflation: Empirical Evidence for Colombian Economy
• Enlaces
  • Texto completo (pdf)
• Resumen
  • español

    Este trabajo toma como estudio de caso a Colombia y busca verificar las restricciones que el problema de la incoherencia temporal impone sobre las series de tiempo de inflación y desempleo. Es analizado el período 1976-2006 para la economía colombiana y los resultados de las pruebas estadísticas muestran que durante el periodo 1976-1991 se comprueban las restricciones del problema de la incoherencia dinámica. En particular, es posible que los errores en la conducción de la política monetaria fueran en parte los responsables por el crecimiento de la inflación en dicho período.

  • English

    This paper takes Colombia as a case-study and seeks to verify the constraints that the Time-inconsistency problem imposes on the time series corresponding to inflation and unemployment. The Colombian economy is analyzed in the period 1976-2006 and the results of the statistical tests show that the constraints were confirmed during the period 1976-1991. In particular, it is possible that errors in monetary policy management were partly responsible for the inflation growth in that period.

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