Dealing with cost-push inflation in Latin America: Multi-causality in a context of increased openness and commodity price volatility

Autores
Abeles, Martin; Panigo, Demian Tupac
Año de publicación
2015
Idioma
inglés
Tipo de recurso
artículo
Estado
versión publicada
Descripción
Despite recognizing the exogenous, cost-push nature of recent inflationary pressures in Latin America, plus the difficulties faced by monetary authorities in dealing, under such circumstances, with internal and external disequilibria simultaneously, intellectual attention in policy circles remains focused on demand-side issues and policy instruments. This paper develops an eclectic model that has the potential to nest demand-side elements, but focuses on cost-push factors - distributional conflict and propagation mechanisms - as typically addressed by the post-Keynesian-structuralist tradition. In addition to shedding some light on the nature of inflationary pressures as experienced in Latin American countries during the recent commodity boom - in particular South American commodity exporting economies - the paper’s main goal is to portray the policy and instrumental trade-offs faced by policy-makers themselves. By bringing unconventional policy devices into the model (such as direct interventions in commodity markets), we hope to broaden the scope of the conventional macroeconomic policy instruments.
Fil: Abeles, Martin. Comisión Económica para América Latina; Argentina. Universidad Nacional de San Martín; Argentina
Fil: Panigo, Demian Tupac. Universidad Metropolitana para la Educación y el Trabajo. Centro de Innovacion de Los Trabajadores; Argentina. Universidad Nacional de La Plata; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas; Argentina. Universidad Nacional de Moreno; Argentina
Materia
AGFLATION
ALTERNATIVE EXCHANGE-RATE REGIMES
COMMODITY PRICES
COST-PUSH INFLATION
DECOUPLING INSTRUMENTS
LATIN AMERICA
Nivel de accesibilidad
acceso abierto
Condiciones de uso
https://creativecommons.org/licenses/by-nc-sa/2.5/ar/
Repositorio
CONICET Digital (CONICET)
Institución
Consejo Nacional de Investigaciones Científicas y Técnicas
OAI Identificador
oai:ri.conicet.gov.ar:11336/127587

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spelling Dealing with cost-push inflation in Latin America: Multi-causality in a context of increased openness and commodity price volatilityAbeles, MartinPanigo, Demian TupacAGFLATIONALTERNATIVE EXCHANGE-RATE REGIMESCOMMODITY PRICESCOST-PUSH INFLATIONDECOUPLING INSTRUMENTSLATIN AMERICAhttps://purl.org/becyt/ford/5.2https://purl.org/becyt/ford/5Despite recognizing the exogenous, cost-push nature of recent inflationary pressures in Latin America, plus the difficulties faced by monetary authorities in dealing, under such circumstances, with internal and external disequilibria simultaneously, intellectual attention in policy circles remains focused on demand-side issues and policy instruments. This paper develops an eclectic model that has the potential to nest demand-side elements, but focuses on cost-push factors - distributional conflict and propagation mechanisms - as typically addressed by the post-Keynesian-structuralist tradition. In addition to shedding some light on the nature of inflationary pressures as experienced in Latin American countries during the recent commodity boom - in particular South American commodity exporting economies - the paper’s main goal is to portray the policy and instrumental trade-offs faced by policy-makers themselves. By bringing unconventional policy devices into the model (such as direct interventions in commodity markets), we hope to broaden the scope of the conventional macroeconomic policy instruments.Fil: Abeles, Martin. Comisión Económica para América Latina; Argentina. Universidad Nacional de San Martín; ArgentinaFil: Panigo, Demian Tupac. Universidad Metropolitana para la Educación y el Trabajo. Centro de Innovacion de Los Trabajadores; Argentina. Universidad Nacional de La Plata; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas; Argentina. Universidad Nacional de Moreno; ArgentinaEdward Elgar Publishing Ltd.2015-10info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionhttp://purl.org/coar/resource_type/c_6501info:ar-repo/semantics/articuloapplication/pdfapplication/pdfhttp://hdl.handle.net/11336/127587Abeles, Martin; Panigo, Demian Tupac; Dealing with cost-push inflation in Latin America: Multi-causality in a context of increased openness and commodity price volatility; Edward Elgar Publishing Ltd.; Review of Keynesian Economics; 3; 4; 10-2015; 517-5352049-5331CONICET DigitalCONICETenginfo:eu-repo/semantics/altIdentifier/url/https://www.elgaronline.com/view/journals/roke/3-4/roke.2015.04.05.xmlinfo:eu-repo/semantics/altIdentifier/doi/10.4337/roke.2015.04.05info:eu-repo/semantics/openAccesshttps://creativecommons.org/licenses/by-nc-sa/2.5/ar/reponame:CONICET Digital (CONICET)instname:Consejo Nacional de Investigaciones Científicas y Técnicas2025-09-29T10:19:17Zoai:ri.conicet.gov.ar:11336/127587instacron:CONICETInstitucionalhttp://ri.conicet.gov.ar/Organismo científico-tecnológicoNo correspondehttp://ri.conicet.gov.ar/oai/requestdasensio@conicet.gov.ar; lcarlino@conicet.gov.arArgentinaNo correspondeNo correspondeNo correspondeopendoar:34982025-09-29 10:19:17.386CONICET Digital (CONICET) - Consejo Nacional de Investigaciones Científicas y Técnicasfalse
dc.title.none.fl_str_mv Dealing with cost-push inflation in Latin America: Multi-causality in a context of increased openness and commodity price volatility
title Dealing with cost-push inflation in Latin America: Multi-causality in a context of increased openness and commodity price volatility
spellingShingle Dealing with cost-push inflation in Latin America: Multi-causality in a context of increased openness and commodity price volatility
Abeles, Martin
AGFLATION
ALTERNATIVE EXCHANGE-RATE REGIMES
COMMODITY PRICES
COST-PUSH INFLATION
DECOUPLING INSTRUMENTS
LATIN AMERICA
title_short Dealing with cost-push inflation in Latin America: Multi-causality in a context of increased openness and commodity price volatility
title_full Dealing with cost-push inflation in Latin America: Multi-causality in a context of increased openness and commodity price volatility
title_fullStr Dealing with cost-push inflation in Latin America: Multi-causality in a context of increased openness and commodity price volatility
title_full_unstemmed Dealing with cost-push inflation in Latin America: Multi-causality in a context of increased openness and commodity price volatility
title_sort Dealing with cost-push inflation in Latin America: Multi-causality in a context of increased openness and commodity price volatility
dc.creator.none.fl_str_mv Abeles, Martin
Panigo, Demian Tupac
author Abeles, Martin
author_facet Abeles, Martin
Panigo, Demian Tupac
author_role author
author2 Panigo, Demian Tupac
author2_role author
dc.subject.none.fl_str_mv AGFLATION
ALTERNATIVE EXCHANGE-RATE REGIMES
COMMODITY PRICES
COST-PUSH INFLATION
DECOUPLING INSTRUMENTS
LATIN AMERICA
topic AGFLATION
ALTERNATIVE EXCHANGE-RATE REGIMES
COMMODITY PRICES
COST-PUSH INFLATION
DECOUPLING INSTRUMENTS
LATIN AMERICA
purl_subject.fl_str_mv https://purl.org/becyt/ford/5.2
https://purl.org/becyt/ford/5
dc.description.none.fl_txt_mv Despite recognizing the exogenous, cost-push nature of recent inflationary pressures in Latin America, plus the difficulties faced by monetary authorities in dealing, under such circumstances, with internal and external disequilibria simultaneously, intellectual attention in policy circles remains focused on demand-side issues and policy instruments. This paper develops an eclectic model that has the potential to nest demand-side elements, but focuses on cost-push factors - distributional conflict and propagation mechanisms - as typically addressed by the post-Keynesian-structuralist tradition. In addition to shedding some light on the nature of inflationary pressures as experienced in Latin American countries during the recent commodity boom - in particular South American commodity exporting economies - the paper’s main goal is to portray the policy and instrumental trade-offs faced by policy-makers themselves. By bringing unconventional policy devices into the model (such as direct interventions in commodity markets), we hope to broaden the scope of the conventional macroeconomic policy instruments.
Fil: Abeles, Martin. Comisión Económica para América Latina; Argentina. Universidad Nacional de San Martín; Argentina
Fil: Panigo, Demian Tupac. Universidad Metropolitana para la Educación y el Trabajo. Centro de Innovacion de Los Trabajadores; Argentina. Universidad Nacional de La Plata; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas; Argentina. Universidad Nacional de Moreno; Argentina
description Despite recognizing the exogenous, cost-push nature of recent inflationary pressures in Latin America, plus the difficulties faced by monetary authorities in dealing, under such circumstances, with internal and external disequilibria simultaneously, intellectual attention in policy circles remains focused on demand-side issues and policy instruments. This paper develops an eclectic model that has the potential to nest demand-side elements, but focuses on cost-push factors - distributional conflict and propagation mechanisms - as typically addressed by the post-Keynesian-structuralist tradition. In addition to shedding some light on the nature of inflationary pressures as experienced in Latin American countries during the recent commodity boom - in particular South American commodity exporting economies - the paper’s main goal is to portray the policy and instrumental trade-offs faced by policy-makers themselves. By bringing unconventional policy devices into the model (such as direct interventions in commodity markets), we hope to broaden the scope of the conventional macroeconomic policy instruments.
publishDate 2015
dc.date.none.fl_str_mv 2015-10
dc.type.none.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
http://purl.org/coar/resource_type/c_6501
info:ar-repo/semantics/articulo
format article
status_str publishedVersion
dc.identifier.none.fl_str_mv http://hdl.handle.net/11336/127587
Abeles, Martin; Panigo, Demian Tupac; Dealing with cost-push inflation in Latin America: Multi-causality in a context of increased openness and commodity price volatility; Edward Elgar Publishing Ltd.; Review of Keynesian Economics; 3; 4; 10-2015; 517-535
2049-5331
CONICET Digital
CONICET
url http://hdl.handle.net/11336/127587
identifier_str_mv Abeles, Martin; Panigo, Demian Tupac; Dealing with cost-push inflation in Latin America: Multi-causality in a context of increased openness and commodity price volatility; Edward Elgar Publishing Ltd.; Review of Keynesian Economics; 3; 4; 10-2015; 517-535
2049-5331
CONICET Digital
CONICET
dc.language.none.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv info:eu-repo/semantics/altIdentifier/url/https://www.elgaronline.com/view/journals/roke/3-4/roke.2015.04.05.xml
info:eu-repo/semantics/altIdentifier/doi/10.4337/roke.2015.04.05
dc.rights.none.fl_str_mv info:eu-repo/semantics/openAccess
https://creativecommons.org/licenses/by-nc-sa/2.5/ar/
eu_rights_str_mv openAccess
rights_invalid_str_mv https://creativecommons.org/licenses/by-nc-sa/2.5/ar/
dc.format.none.fl_str_mv application/pdf
application/pdf
dc.publisher.none.fl_str_mv Edward Elgar Publishing Ltd.
publisher.none.fl_str_mv Edward Elgar Publishing Ltd.
dc.source.none.fl_str_mv reponame:CONICET Digital (CONICET)
instname:Consejo Nacional de Investigaciones Científicas y Técnicas
reponame_str CONICET Digital (CONICET)
collection CONICET Digital (CONICET)
instname_str Consejo Nacional de Investigaciones Científicas y Técnicas
repository.name.fl_str_mv CONICET Digital (CONICET) - Consejo Nacional de Investigaciones Científicas y Técnicas
repository.mail.fl_str_mv dasensio@conicet.gov.ar; lcarlino@conicet.gov.ar
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