The link between inflation and inflation uncertainty is evaluated using Peruvian data, in a context of changing monetary policies because of regime shifts. A Markov regime-switching heteroskedasticity model that includes unobserved components is used. The model shows how periods of high (low)...

In this paper we analyze the effects of informal labor markets on the dynamics of inflation and on the transmission of aggregate demand and supply shocks. In doing so, we incorporate the informal sector in a modified New Keynesian model with labor market frictions as in the...

Este documento de trabajo provee un análisis empírico de la relación entre movimientos del tipo de cambio y los principales índices de precios en los países de la OECD. El análisis del trabajo esta centrado en cómo diferentes ambientes inflacionarios permitirían explicar el descenso en...