Efectos asimétricos de shocks de inflación e incertidumbre inflacionaria en Bolivia 1990-2013

Abstract

This research paper examines the evolution of the monthly inflation of Bolivia in the period 1990:01- 2013:03 and presents evidence for the hypothesis of Friedman and Ball,which states that high inflation increases inflation uncertainty, and to a lesser extent and significance the hypothesis Cukierman and Metzler is also accepted, which postulates that high levels of inflation uncertainty increase the average rate of inflation. At the same time we can also say that in the case of Bolivia not the hypothesis Holland, Grier and Perry, which states that there is an inverse relationship between inflation uncertainty and inflation is fulfilled. In addition, there is evidence that positive inflation shocks have a greater impact on the negative shock to inflation uncertainty, and inflation uncertainty has a decreasing trend over time, this last statement product of good work and performance of authorities monetary, to promote price stability and thus maintain low inflation macroeconomics.