| Revista: | Análisis económico - Universidad Autónoma Metropolitana |
| Base de datos: | CLASE |
| Número de sistema: | 000321156 |
| ISSN: | 0185-3937 |
| Autors: | Pagliacci, Carolina1 Barráez, Daniel1 |
| Institucions: | 1Banco Central de Venezuela, Caracas, Distrito Federal. Venezuela |
| Any: | 2010 |
| Període: | May-Ago |
| Volum: | 25 |
| Número: | 59 |
| Paginació: | 25-46 |
| País: | México |
| Idioma: | Español |
| Tipo de documento: | Artículo |
| Enfoque: | Descriptivo |
| Resumen en inglés | In this paper we analyze the dynamics of inflation in Venezuela during the last eighteen years, using a Markov-switching estimation model of a New Keynesian Phillips curve. Estimation is carried out using the EM algorithm. The model’s estimates distinguish between a “normal or backward looking” regime and a “rational expectations” regime consistent with episodes of high uncertainty regarding the performance of the economy. This characterization of regimes is based on two elements: the description of the process of formation of inflationary expectations and the main economic events occurred during each regime |
| Disciplines | Economía, Ciencia política |
| Paraules clau: | Economía monetaria, Gobierno, Econometría, Venezuela, Modelo de Markov, Inflación, Cambio de gobierno |
| Text complet: | Texto completo (Ver PDF) |
