Wage indexation, inflation inertia, and the cost of disinflation

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Borradores de Economía; No. 198

Date published

2002-02-16

Date

2002-02-16

Authors

Gómez-Pineda, Javier G.

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ISBN

Document language

spa
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Las opiniones contenidas en el presente documento son responsabilidad exclusiva de los autores y no comprometen al Banco de la República ni a su Junta Directiva.

The opinions contained in this document are the sole responsibility of the author and do not commit Banco de la República or its Board of Directors.

Abstract

Wage increases based on past inflation increase inflation inertia and hence increase the cost of disinflation. Higher central bank credibility and a higher frequency of wage negotiations correspond to lower inflation inertia and a lower cost of disinflati

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JEL Codes

E52 - Monetary Policy

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Keywords

Keywords

Wage indexation , Inflation inertia , Cost of disinflation

Citation

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https://repositorio.banrep.gov.co/handle/20.500.12134/5216
 https://hdl.handle.net/20.500.12134/5216
 https://ideas.repec.org/p/bdr/borrec/198.html
 https://doi.org/10.32468/be.198

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Borradores de Economía

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