account deficits and investment rises. Fourth, the strength of the relative price appreciation following sector productivity …

This paper addresses the role of markup variations in the transmission process of cross-sectoral productivity … frictionless goods markets predicts that a rise in the sectoral productivity ratio by 1% raises the relative price by 1% while … productivity by 1% raises the relative price of nontradables by only 0.70% and that an increase in government spending by 1% of GDP …

pressures along the year led to the unfulfillment of the inflation target established by the Banco de la República, with a rate … need to reduce the inflation rate by the means of the rise in interest rates compromised the role of monetary and exchange …

macroeconomic developments regarding economic growth, inflation, external balance, the fiscal situation and aggregate savings and …

macroeconomic developments regarding economic growth, inflation, external balance, the fiscal situation and aggregate savings and …

reactiveness of inflation to the unemployment rate. In regard to a monetary union, the national unemployment multiplier in the …

volatility of output growth and inflation, although the magnitudes of these effects depend on the policy framework and the … inflation helps to moderate the volatility of output and inflation in the face of a volatile terms of trade. The same is true of … that focuses on low inflation is associated with lower volatility of imports. …