Publication: El tipo de cambio real en una economía dependiente: tecnología, preferencias y estructura de mercado
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1997
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Facultad de Ciencias Económicas y Empresariales. Instituto Complutense de Análisis Económico (ICAE)
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Este trabajo investiga, en un contexto estático, el papel que Juegan los factores de oferta, los factores de demanda y la estructura de mercado, en la generación de la inflación dual. Para ello hemos desarrollado un modelo de equilibrio general con dos tipos de bienes, comerciables y no comerciables, en el que es posible caracterizar diferentes grados de competitividad en los mercados de factores y de bienes. Los resultados indican que todos los factores examinados pueden ser relevantes para la explicación de la inflación dual. En el corto plazo, la inflación dual depende en gran medida del grado de competencia en el mercado de factores, mientras que en el largo plazo depende fundamentalmente del grado de competencia en el mercado de bienes no comerciables.
This paper examines the role played by supply and demand side factors, and the market structure, in generating dual inflation. We develop a static general equilibrium model for a small open economy with two sectors, traded and nontraded goods. where it is possible to caracterize different degrees of competition in the labor and goods markets. Results indicate that wage rigidity plays an important role in generating dual inflation in the short-run. However, in the long-run, changes in the degree of competition in the non traded sector play a more substancial role.
This paper examines the role played by supply and demand side factors, and the market structure, in generating dual inflation. We develop a static general equilibrium model for a small open economy with two sectors, traded and nontraded goods. where it is possible to caracterize different degrees of competition in the labor and goods markets. Results indicate that wage rigidity plays an important role in generating dual inflation in the short-run. However, in the long-run, changes in the degree of competition in the non traded sector play a more substancial role.
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