Manuel de Mier, Fernando Delbianco
arXiv 10 Nov 2023 · General Economics
arXiv:2401.02428 · PDF · DOI · OpenAlex · Extracted main text
The classifications of inflationary regimes proposed in the literature have mostly been based on arbitrary characterizations, subject to value judgments by researchers. The objective of this study is to propose a new methodological approach that reduces subjectivity and improves accuracy in the construction of such regimes. The method is built upon a combination of clustering techniques and classification trees, which allows for an historical periodization of Argentina's inflationary history for the period 1943-2022. Additionally, two procedures are introduced to smooth out the classification over time: a measure of temporal contiguity of observations and a rolling method based on the simple majority rule. The obtained regimes are compared against the existing literature on the inflation-relative price variability relationship, revealing a better performance of the proposed regimes.
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The works this paper leans on most, across its whole bibliography — not restricted to papers in our corpus. Ranked by composite intensity, which combines how often a work is mentioned, how many sections mention it, and how much of that falls in the main text rather than the appendix.
| Reference | Intensity | Mentions | Sections | Main text | |
|---|---|---|---|---|---|
| 1 | Dabús, Carlos (2000) Inflationary regimes and relative price variability: evidence from Argentina | 1.000 | 12 | 5 | 100% |
| 2 | Caraballo, M. Angeles, Dabús, Carlos, Usabiaga, Carlos (2006) Relative prices and inflation: new evidence from different inflationary contexts | 1.000 | 5 | 4 | 100% |
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| 6 | Levy-Yeyati, Eduardo, Sturzenegger, Federico (2005) Classifying exchange rate regimes: Deeds vs. words | 0.737 | 3 | 2 | 100% |
| 7 | Werner, Alejandro M., Bazdresch, Santiago (2000) La inflación moderada y la inestabilidad del proceso inflacionario | 0.737 | 3 | 2 | 100% |
| 8 | Heymann, Daniel, Leijonhufvud, Axel (1995) High Inflation: The Arne Ryde Memorial Lectures | 0.644 | 2 | 2 | 100% |
| 9 | Castagnino, Tomás, D'Amato, Laura (2008) Régimen y dinámica inflacionaria subyacente:¿Comovimiento generalizado o ajuste de precios relativos? | 0.644 | 2 | 2 | 100% |
| 10 | D'Amato, Laura, Garegnani, María Lorena, D'Amato, Laura, Enciso, Enr… (2013) ¿Cuán persistente es la inflación en Argentina?: regímenes inflacionarios y dinámica de precios en los últimos 50 años | 0.644 | 2 | 2 | 100% |
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