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

Autores
Abeles, Martín; 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.
Facultad de Ciencias Económicas
Materia
Ciencias Económicas
Agflation
Alternative exchange-rate regimes
Commodity prices
Cost-push inflation
Decoupling instruments
Latin America
Nivel de accesibilidad
acceso abierto
Condiciones de uso
http://creativecommons.org/licenses/by-nc-sa/4.0/
Repositorio
SEDICI (UNLP)
Institución
Universidad Nacional de La Plata
OAI Identificador
oai:sedici.unlp.edu.ar:10915/85978

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network_name_str SEDICI (UNLP)
spelling Dealing with cost-push inflation in Latin America: multi-causality in a context of increased openness and commodity price volatilityAbeles, MartínPanigo, Demian TupacCiencias EconómicasAgflationAlternative exchange-rate regimesCommodity pricesCost-push inflationDecoupling instrumentsLatin AmericaDespite 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.Facultad de Ciencias Económicas2015info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionArticulohttp://purl.org/coar/resource_type/c_6501info:ar-repo/semantics/articuloapplication/pdf517-535http://sedici.unlp.edu.ar/handle/10915/85978enginfo:eu-repo/semantics/altIdentifier/issn/2049-5323info:eu-repo/semantics/altIdentifier/doi/10.4337/roke.2015.04.05info:eu-repo/semantics/openAccesshttp://creativecommons.org/licenses/by-nc-sa/4.0/Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0)reponame:SEDICI (UNLP)instname:Universidad Nacional de La Platainstacron:UNLP2025-09-29T11:17:00Zoai:sedici.unlp.edu.ar:10915/85978Institucionalhttp://sedici.unlp.edu.ar/Universidad públicaNo correspondehttp://sedici.unlp.edu.ar/oai/snrdalira@sedici.unlp.edu.arArgentinaNo correspondeNo correspondeNo correspondeopendoar:13292025-09-29 11:17:00.244SEDICI (UNLP) - Universidad Nacional de La Platafalse
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, Martín
Ciencias Económicas
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, Martín
Panigo, Demian Tupac
author Abeles, Martín
author_facet Abeles, Martín
Panigo, Demian Tupac
author_role author
author2 Panigo, Demian Tupac
author2_role author
dc.subject.none.fl_str_mv Ciencias Económicas
Agflation
Alternative exchange-rate regimes
Commodity prices
Cost-push inflation
Decoupling instruments
Latin America
topic Ciencias Económicas
Agflation
Alternative exchange-rate regimes
Commodity prices
Cost-push inflation
Decoupling instruments
Latin America
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.
Facultad de Ciencias Económicas
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
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dc.language.none.fl_str_mv eng
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dc.relation.none.fl_str_mv info:eu-repo/semantics/altIdentifier/issn/2049-5323
info:eu-repo/semantics/altIdentifier/doi/10.4337/roke.2015.04.05
dc.rights.none.fl_str_mv info:eu-repo/semantics/openAccess
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Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0)
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