Tesis para optar al grado de Magíster en Economía / This research describes price-setting over time and across items in Chile, an emerging
market economy. The microeconomic database underlying the consumer price
index (CPI) is used to characterize microeconomic pricing behavior, and to study its
implications for the transmission of monetary policy to the real economy. Prices are
found to be relatively flexible at a microeconomic level, in contrast to macroeconomic
findings. Price changes are also mainly small and quite synchronized, and display a
decreasing hazard rate. An evaluation of the relevance of microeconomic price data
moments for forecasting aggregate inflation finds that the frequency of price increases
and decreases, and their respective absolute magnitudes-which can only be computed
from disaggregated data-can significantly improve on inflation forecasting
based solely on aggregate variables.
| Identifer | oai:union.ndltd.org:UCHILE/oai:repositorio.uchile.cl:2250/138665 |
| Date | 05 1900 |
| Creators | Sara Z., M. Francisca |
| Contributors | Engel Goetz, Eduardo Martín, Escuela de Postgrado, Economía y Negocios, Facultad de Economía y Negocios |
| Publisher | Universidad de Chile |
| Source Sets | Universidad de Chile |
| Language | English |
| Detected Language | English |
| Type | Tesis |
| Rights | Atribución-NoComercial-SinDerivadas 3.0 Chile, http://creativecommons.org/licenses/by-nc-nd/3.0/cl/ |
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