Efectos de la inflación sobre el nivel de actividad: la experiencia argentina

Abstract

The author analyses the relation between the rate of inflation and the level of activity, the monetization degree, the purchasing power of the wages and the real rate of exchange. He uses the methodologies known as "Vector autorregresion" and "General to Specific". With both procedures he arrives to the same conclusion, in the sense that an increase in the rate of inflation seems to reduce the level of economic activity, and that these effects growth more than proportional when the rate of inflation rises, causing deeper economic fluctuations, and perhaps, more frequent ones.