Impacto de la política monetaria en el equilibrio del mercado de trabajo: Países de la alianza del pacífico1

Carlos David Cardona-Arenas; Lya Paola Sierra-Suárez

doi:10.14718/REVFINANZPOLITECON.V12.N2.2020.3213

Impacto de la política monetaria en el equilibrio del mercado de trabajo: Países de la alianza del pacífico1

Translated title of the contribution: Monetary policy impact on the labor market equilibrium: Countries of the pacific alliance

Carlos David Cardona-Arenas
, Lya Paola Sierra-Suárez

Department of Economics and Finance

Universidad Autónoma de Manizales

Research output: Contribution to journal › Article › peer-review

8 Scopus citations

Abstract

This paper analyzes the impact of monetary policy on the Non-Accelerating Inflation Rate of Unemployment (NAIRU), or equilibrium of the labor markets, for the countries that belongs to the Pacific Alliance (Chile, Colombia, Peru and Mexico). The NAIRU movements are estimated for each country. Furthermore, Auto-Regressive Vector Models are used to evaluate the impact of monetary policy on the labor market of each of the PA countries. Results show that monetary policy impacts the NAIRU of Chile, Colombia and Peru. However, monetary policy shocks have not significant impact on the NAIRU of Mexico. Keywords: Labor market, Unemployment, Inflation, Monetary Policy, VAR models.

Translated title of the contribution	Monetary policy impact on the labor market equilibrium: Countries of the pacific alliance
Original language	Spanish
Pages (from-to)	491-521
Number of pages	31
Journal	Revista Finanzas y Politica Economica
Volume	12
Issue number	2
DOIs	https://doi.org/10.14718/REVFINANZPOLITECON.V12.N2.2020.3213
State	Published - Jul 2020

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This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 8 Decent Work and Economic Growth

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10.14718/REVFINANZPOLITECON.V12.N2.2020.3213

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title = "Impacto de la pol{\'i}tica monetaria en el equilibrio del mercado de trabajo: Pa{\'i}ses de la alianza del pac{\'i}fico1",

abstract = "This paper analyzes the impact of monetary policy on the Non-Accelerating Inflation Rate of Unemployment (NAIRU), or equilibrium of the labor markets, for the countries that belongs to the Pacific Alliance (Chile, Colombia, Peru and Mexico). The NAIRU movements are estimated for each country. Furthermore, Auto-Regressive Vector Models are used to evaluate the impact of monetary policy on the labor market of each of the PA countries. Results show that monetary policy impacts the NAIRU of Chile, Colombia and Peru. However, monetary policy shocks have not significant impact on the NAIRU of Mexico. Keywords: Labor market, Unemployment, Inflation, Monetary Policy, VAR models.",

author = "Cardona-Arenas, \{Carlos David\} and Sierra-Su{\'a}rez, \{Lya Paola\}",

year = "2020",

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doi = "10.14718/REVFINANZPOLITECON.V12.N2.2020.3213",

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AU - Cardona-Arenas, Carlos David

AU - Sierra-Suárez, Lya Paola

PY - 2020/7

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N2 - This paper analyzes the impact of monetary policy on the Non-Accelerating Inflation Rate of Unemployment (NAIRU), or equilibrium of the labor markets, for the countries that belongs to the Pacific Alliance (Chile, Colombia, Peru and Mexico). The NAIRU movements are estimated for each country. Furthermore, Auto-Regressive Vector Models are used to evaluate the impact of monetary policy on the labor market of each of the PA countries. Results show that monetary policy impacts the NAIRU of Chile, Colombia and Peru. However, monetary policy shocks have not significant impact on the NAIRU of Mexico. Keywords: Labor market, Unemployment, Inflation, Monetary Policy, VAR models.

AB - This paper analyzes the impact of monetary policy on the Non-Accelerating Inflation Rate of Unemployment (NAIRU), or equilibrium of the labor markets, for the countries that belongs to the Pacific Alliance (Chile, Colombia, Peru and Mexico). The NAIRU movements are estimated for each country. Furthermore, Auto-Regressive Vector Models are used to evaluate the impact of monetary policy on the labor market of each of the PA countries. Results show that monetary policy impacts the NAIRU of Chile, Colombia and Peru. However, monetary policy shocks have not significant impact on the NAIRU of Mexico. Keywords: Labor market, Unemployment, Inflation, Monetary Policy, VAR models.

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M3 - Artículo

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JO - Revista Finanzas y Politica Economica

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ER -

Impacto de la política monetaria en el equilibrio del mercado de trabajo: Países de la alianza del pacífico1

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