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  • 标题:Nicaragua: Threshold inflation, economic growth and new monetary policy after the international crisis
  • 本地全文:下载
  • 作者:Rolando Gonzales Martínez
  • 期刊名称:Ensayos sobre Política Económica
  • 印刷版ISSN:0120-4483
  • 出版年度:2015
  • 卷号:33
  • 期号:76
  • 页码:31-43
  • DOI:10.1016/j.espe.2015.01.003
  • 出版社:Banco de la Republica, Bogotà
  • 摘要:

    After the international crisis, it was suggested that inflation targets should be raised in order to allow more space to monetary policies during contractionary product times. The present study proposes that the limit to raise the inflation target should be threshold inflation, defined as the rate above which price variability is detrimental to economic growth. Bayesian methods are proposed to estimate this threshold. Results suggest that over the threshold there is a negative and statistically significant relationship between inflation and variations in the product.

  • 关键词:C11. E31. E58.
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