Trade partners inflation as a benchmark for setting the inflation target in Costa Rica

In this working paper we present a measure of trade partner’s inflation which can serve as a benchmark for setting the long term inflation target by the authorities of the Central Bank of Costa Rica. This metric is constructed by weighting the Consumer Price Indexes of the main trading partners base...

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Detalles Bibliográficos
Autores principales: Editorial Universidad Nacional de Costa Rica (EUNA), Banco Central de Costa Rica (BCCR), Álvarez Corrales, Cristian; Banco Central de Costa Rica (BCCR)., León Murillo, Jorge; Banco Central de Costa Rica (BCCR).
Formato: Artículo publishedVersion
Lenguaje:Español
Publicado: Universidad Nacional - Escuela de Economía 2013
Materias:
inflation; trade partners; structural break; tradable good
inflación; socios comerciales; quiebre estructural; bien transable
Acceso en línea:http://www.revistas.una.ac.cr/index.php/economia/article/view/5587
http://biblioteca.clacso.edu.ar/gsdl/cgi-bin/library.cgi?a=d&c=cr/cr-008&d=article5587oai
Aporte de:
Red de Bibliotecas Virtuales de Ciencias Sociales (CLACSO) de Consejo Latinoamericano de Ciencias Sociales
id I16-R122-article5587oai
record_format dspace
institution Consejo Latinoamericano de Ciencias Sociales
institution_str I-16
repository_str R-122
collection Red de Bibliotecas Virtuales de Ciencias Sociales (CLACSO)
language Español
topic inflation; trade partners; structural break; tradable good
inflación; socios comerciales; quiebre estructural; bien transable
spellingShingle inflation; trade partners; structural break; tradable good
inflación; socios comerciales; quiebre estructural; bien transable
Editorial Universidad Nacional de Costa Rica (EUNA)
Banco Central de Costa Rica (BCCR)
Editorial Universidad Nacional de Costa Rica (EUNA)
Banco Central de Costa Rica (BCCR)
Álvarez Corrales, Cristian; Banco Central de Costa Rica (BCCR).
León Murillo, Jorge; Banco Central de Costa Rica (BCCR).
Trade partners inflation as a benchmark for setting the inflation target in Costa Rica
topic_facet inflation; trade partners; structural break; tradable good
inflación; socios comerciales; quiebre estructural; bien transable
description In this working paper we present a measure of trade partner’s inflation which can serve as a benchmark for setting the long term inflation target by the authorities of the Central Bank of Costa Rica. This metric is constructed by weighting the Consumer Price Indexes of the main trading partners based on the relative importance of each partner in total trade with Costa Rica. Since the success of the Inflation Targeting monetary regimen depends crucially on the ability of the Central Bank to anchor inflation expectations to the long term inflation target, we consider that a target of 3%, which is equal to the average of the inflation rate for the trading partner´s between years 2000 and 2012, will allow the BCCR to fulfill its goals of low and stable inflation rate.
format Artículo
publishedVersion
Artículo
publishedVersion
author Editorial Universidad Nacional de Costa Rica (EUNA)
Banco Central de Costa Rica (BCCR)
Editorial Universidad Nacional de Costa Rica (EUNA)
Banco Central de Costa Rica (BCCR)
Álvarez Corrales, Cristian; Banco Central de Costa Rica (BCCR).
León Murillo, Jorge; Banco Central de Costa Rica (BCCR).
author_facet Editorial Universidad Nacional de Costa Rica (EUNA)
Banco Central de Costa Rica (BCCR)
Editorial Universidad Nacional de Costa Rica (EUNA)
Banco Central de Costa Rica (BCCR)
Álvarez Corrales, Cristian; Banco Central de Costa Rica (BCCR).
León Murillo, Jorge; Banco Central de Costa Rica (BCCR).
author_sort Editorial Universidad Nacional de Costa Rica (EUNA)
title Trade partners inflation as a benchmark for setting the inflation target in Costa Rica
title_short Trade partners inflation as a benchmark for setting the inflation target in Costa Rica
title_full Trade partners inflation as a benchmark for setting the inflation target in Costa Rica
title_fullStr Trade partners inflation as a benchmark for setting the inflation target in Costa Rica
title_full_unstemmed Trade partners inflation as a benchmark for setting the inflation target in Costa Rica
title_sort trade partners inflation as a benchmark for setting the inflation target in costa rica
publisher Universidad Nacional - Escuela de Economía
publishDate 2013
url http://www.revistas.una.ac.cr/index.php/economia/article/view/5587
http://biblioteca.clacso.edu.ar/gsdl/cgi-bin/library.cgi?a=d&c=cr/cr-008&d=article5587oai
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