We study the evolution of inflation persistence in Argentina between 1980 and 2007, a period in which significant changes in mean inflation can be detected by simple observation. We adopt both a timeseries univariate and a frequency-domain approach. Following the former perspective breaks in the...

We estimate a “Hybrid New-Keynesian Phillips Curve” for Argentina between 1993 and 2007. We extend the model to a small open economy, considering separately the influence of nominal devaluation and foreign inflation on domestic prices. For the whole sample, we find that forward and...

This paper delves into the importance of access to financing for the performance of firms in export markets. Based on a unique microeconomic database that combines data on Argentine firms´ characteristics and export performance with information on their domestic and external financing, we...

Monetary policymaking requires an adequate appraisal of price dynamics and reliable forecasts for short and medium term inflation. Since the relevant inflation for monetary policy purpose may not be adequately measured by conventional consumer price indexes, there is a need for core inflation...

Using frequency domain techniques to separate short and long run dynamics and decomposing inflation into its common and idiosyncratic components, we study the regime dependence of the inflation-RPV relation in Argentina and the USA. Under High inflation, strong long-run comovement between RPV...

Inflation forecasting plays a central role in monetary policy formulation. At the same time, recent international empirical evidence suggests that with the decline in inflation of recent years, the joint dynamics of this variable and its potential predictors has changed and inflation has become...

Recent cross-country empirical evidence indicates that the money-prices relationship depends on the average rate of inflation. This relationship is strong in economies with high inflation, but weakens under low inflation. Based on these findings, we study the dependence of the money-prices...