Repositorio Institucional Universidad EAFIT ::Examinando por Materia "PRECIOS

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Shockwawes : The invisible impact of the global economy on inflation in Colombia
(Universidad EAFIT, 2025) Sánchez Graciano, Katerin Sofía; Vásquez Chacón, Sebastián; Pinilla Barrera, Alejandro
This study examines the impact of external factors on inflation in Colombia using a VAR (Vec tor Autoregressive) model. It investigates how global inflation, particularly in the aftermath of the COVID-19 pandemic, influences domestic inflation in Colombia. Key determinants include commodity prices, exchange rates, and inflation expectations. The objectives include assessing the effects of exchange rate fluctuations, analyzing macroeconomic shocks, and developing an econometric model to identify the main drivers of inflation. The research highlights the impor tance of understanding these external influences for effective monetary policy in an interconnected global economy. The methodology involves constructing a database of both local and international macroeconomic variables and estimating their relationships to determine their impact on Colom bia’s Consumer Price Index (CPI).