Print version ISSN 0123-5923
RODRIGUEZ PINZON, HEIVAR YESID. Study of the phenomenon of imported inflation via oil prices and its application to the Colombian case by using VAR models for the period 2000-2009. estud.gerenc. [online]. 2011, vol.27, n.121, pp. 79-98. ISSN 0123-5923.
The objective of this article is to examine whether the oil price variable fueled a phenomenon of imported inflation in Colombia for the period from January 2000 to July 2009. The estimation strategy is based on the VAR (Vector Autoregression) model taking into account WTI oil prices and the CPI (Consumer Price Index). This model provided evidence that shows that Colombia may be a case of imported inflation, signaling that inflation is not an endogenous process, but rather a process under the influence of external variables.
Keywords : Inflation; imported inflation; VAR models; oil prices; Colombia.