DINÁMICA DE LA ESTRUCTURA DE PRECIOS EN URUGUAY

Abstract

Understanding and predicting the inflationary phenomenon is a central problem for economists and decision-makers. Traditionally, time series econometric techniques have been used to study this phenomenon; but can complexity economics provide a complementary vision to previous studies? This work seeks to study the dynamics of the price structure of the Uruguayan economy from the perspective of complexity economics, using network analysis techniques that allow studying the relationship between the goods and services that constitute the CPI. In this work, clusters of goods and services are studied based on the dynamic behavior of prices, in turn detecting relevant price variations in this network. The results show that the relevant prices are not associated with the CPI goods divisions and that clusters are consistent with previous studies for Uruguay.