Inflation determinants in Paraguay : cost push versus demand pull factors / / Brieuc Monfort and Santiago Peña

• Record Nr.: UNINA9910464252103321
• Autore: Monfort Brieuc
• Pubbl/distr/stampa: [Washington, District of Columbia] : , : International Monetary Fund, , 2008; ©2008
• ISBN: 1-4623-9614-3; 1-4527-7631-8; 9786612842214; 1-4518-7128-7; 1-282-84221-8
• Descrizione fisica: 1 online resource (43 p.)
• Collana: IMF Working Papers; IMF working paper ; ; WP/08/270
• Altri autori (Persone): PeñaSantiago
• Disciplina: 332.41
• Soggetti: Inflation (Finance) - Paraguay - Econometric models; Demand for money - Paraguay - Econometric models; Electronic books.
• Lingua di pubblicazione: Inglese
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Note generali: Description based upon print version of record.
• Nota di bibliografia: Includes bibliographical references.
• Nota di contenuto: Contents; I. Introduction; II. Measuring Inflation; A. Headline Inflation; B. Core Inflation Measures; C. Properties of Inflation Indicators; III. Analytical and Empirical Set-Up; A. Inflation as a Mark-Up Over Costs; B. Inflation as the Result of Excess Money Supply; C. Econometric Methodology; IV. Mark-Up Theory of Inflation; V. Monetary Theory of Inflation; A. The Demand for Currency; B. The Demand for Narrow Money and Broad Money; C. Why Has Inflation and Picked Up with High Monetary Growth?; VI. Short-Term Determinants of Inflation; A. Short-Term Dynamics; B. Dynamic Contributions; VII. Summary and ConclusionReferences; Annexes; I. Inflation in Selection of Latin American Countries Since 1950; II. Micro Level Analysis of Prices; III. The New Consumer Price Index; IV. Food Inflation in Latin America; V. Data Issues and Database Used in Econometric Analysis; VI. Econometric Results
• Sommario/riassunto: This article uses two analytical methodologies to understand the dynamics of inflation in Paraguay, the mark-up theory of inflation and the monetary theory of inflation. We also study the impact of different monetary aggregates. The results suggest that monetary factors, in particular currency in circulation, play a major role in determining long-run inflation, while foreign prices, in particular from Brazil, or some food products have a large impact on the short-term dynamics of inflation. Wage indexation may also contribute to locking up price increases.