Inflation and imported input prices in some inflationary Latin American economies : fin. vers. received January 1984

The paper updates to 1980 the estimates of the Harberger inflation model for Argentine, Brazil, Chile, Colombia and Uruguay and shows that the reaction to monetary growth is fairly rapid. An aggregate supply function including imported inputs is hypothesized, following recent theoretical work. The results explain the similar outcomes of many of the previous estimates of the Harberger inflation equation, which included the rate of devaluation in an ad hoc fashion