Fiche du document
1 décembre 2022
- handle: 10670/1.v5tklo
Ce document est lié à :
10.15446/cuad.econ.v41n87.92783
info:eu-repo/semantics/openAccess
Mots-clés
New Keynesian Phillips Curve labour precariousness unemployment disinflation cointegration ARDL sacrifice rateSujets proches
Burnt offeringCiter ce document
Eduardo Loria et al., « SACRIFICE RATE AND LABOUR PRECARIOUSNESS IN MEXICO, 2005Q1-2019Q4 », Cuadernos de Economía, ID : 10670/1.v5tklo
Métriques
Partage / Export
Résumé
Since 2005 the Mexican economy has registered four disinflationary episodes. We estimate six Phillips curves (OLS and ARDL), to evaluate the sacrifice rate in the GDP, in the unemployment rate, and in the Rate of Critical Labour Conditions (RCLC). Our contribution is that, by including labour precariousness in the New Keynesian Phillips Curve, augmented with the RCLC, inflation is more accurately modelled. We determine that labour precariousness has been the main disinflationary adjustment variable and we found that there are cointegrating relationships indicating that a one-point reduction in inflation increases the RCLC by 3.65 points in the long run. JEL: E31, E63, J81, C22, C52.