Estimación de la Curva de Phillips neokeynesiana para Colombia: 1990-2006

Translated title of the contribution: An estimated New Keynesian Phillips curve for Colombia, 1996-2006

Research output: Contribution to journalReview articlepeer-review

Abstract

This paper seeks to verify empirically the existence of a New Keynesian Phillips curve for the Colombian economy. This allows determining if inflation dynamics are likely explained by microeconomic foundations. Additionally, this approach enables the analysis of price rigidities in the economy. The results suggest that: (1) unit labor costs explain inflation dynamics; (2) eighty percent of firms set their prices every five quarters; and, (3) productivity changes explain marginal costs.

Translated title of the contributionAn estimated New Keynesian Phillips curve for Colombia, 1996-2006
Original languageSpanish
Pages (from-to)11-47
Number of pages37
JournalLecturas de Economia
Volume73
Issue number73
StatePublished - Dec 2010
Externally publishedYes

Bibliographical note

Publisher Copyright:
© 2010 Universidad de Antioquia. All rights reserved.

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