Pricing Process in Mexico: New Evidence on the Inflation Dynamics
نویسندگان
چکیده
We analyze the inflation dynamics in Mexico during targeting period by a GMM estimate of Hybrid New Keynesian Phillips Curve its open and closed economy versions. update discuss previous results expand capacity this tool to inflationary incorporating exchange rate on labor costs. find: a) robust evidence adaptive rational expectations; b) improves fit; c) version has strengthened since Great Recession, e) expectations formation process changes episodes according origin shocks.
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ژورنال
عنوان ژورنال: Ecos de Economía
سال: 2022
ISSN: ['2462-8107', '1657-4206']
DOI: https://doi.org/10.17230/ecos.2021.52.1