Professional Documents
Culture Documents
ECONOMIA Y EMPRESA
CAPITULO 24
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Logro de aprendizaje:
Al finalizar la sesión, el estudiante debe comprender conceptos
importantes dentro de la macroeconomía, como el Índice de precios
al consumidor (IPC), la tasa de inflación y las políticas
antinflacionarias.
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CONTENIDOS
1. Indice de Precios al Consumidor (IPC)
2. Inflación por Demanda
3. Inflación por Oferta
4. Indexación
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IMPACTO
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Pregunta de
reflexión
¿Qué opinión tienes sobre el
incremento de precios en
una economía?
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ADQUISICIÓN
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Diapositivas elaboradas por:
Andreea CHIRITESCU
Eastern Illinois University
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8
24
Medición del costo de vida
Diapositivas de PowerPoint
preparadas por:
Andreea CHIRITESCU
Eastern Illinois University
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24-1 Índice de precios al consumidor
24-1a Cómo se calcula el IPC
1. Determinar la canasta
Cuáles son los precios más importantes para el consumidor típico
(pesos).
2. Identificar los precios en cada punto de tiempo.
3. Calcular el costo de la canasta
Misma canasta de bienes y servicios
Aislar el efecto de los cambios en los precios (año base)
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24-1 Índice de precios al consumidor
4. Elegir un año base y calcular el índice
Precio de la canasta de bienes y servicios en el año actual
Dividido entre el precio de la canasta en el año base
Multiplicado por 100
5. Calcular la tasa de inflación
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TABLA 1
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24-1 Índice de precios al consumidor
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24-1 Índice de precios al consumidor
24-1b Problemas en la medición del costo de vida
El objetivo del IPC es medir los cambios en el costo de vida, pero es
una medida imperfecta que tiene tres problemas:
1) SESGO DE SUSTITUCIÓN
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24-1 Índice de precios al consumidor
24-1c Deflactor del PBI frente a índice de
precios al consumidor (IPC)
Deflactor del PBI
Razón del PBI nominal entre el PBI real
Refleja los precios de todos los bienes y
servicios producidos internamente
IPC “El precio puede parecer un
poco alto, pero debe
Refleja el precio de los bienes y servicios recordar que está en dinero
de hoy.”
comprados por los consumidores
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24-1 Índice de precios al consumidor
24-1c Deflactor del PBI frente a índice de precios al consumidor (IPC)
Deflactor del PBI
Compara los precios de los bienes y servicios producidos
actualmente.
Con el precio de los mismos bienes y servicios producidos en el
año base.
IPC
Compara los precios de una canasta fija de bienes y servicios
Con el precio de la canasta en el año base.
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FIGURA 2
19
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INFLACIÓN 1980 – 2013… un poco de historia
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La inflación pasó de 8,81 por ciento en junio de 2022 hasta 4,34 por ciento en octubre de 2023. La persistente inflación
de alimentos ha sido impulsada por eventos climáticos adversos, mayores precios de fertilizantes, bloqueos de
carreteras y un brote de gripe aviar. La inflación sin alimentos y energía se acerca al límite superior del rango meta.
INFLACIÓN, 2007-2023
(Var. % anual)
16.0
Promedio
01-20
Dic. 19 Dic. 20 Dic. 21 Dic.22 Oct.23
14.0
Total 2,6% 1,9% 2,0% 6,4% 8,5% 4,34%
12.0
Sin alimentos y energía 2,1% 2,3% 1,8% 3,2% 5,6% 3,32%
10.0 Alimentos y energía 3,2% 1,4% 2,2% 10,2% 12,0% 5,55%
8.0
6.0
5.6
4.0 4.3
3.3
2.0
0.0
-2.0
Total Alimentos y energía Sin alimentos y energía
-4.0
Oct-07
Apr-08
Oct-08
Apr-09
Oct-09
Apr-10
Oct-10
Apr-11
Oct-11
Apr-12
Oct-12
Apr-13
Oct-13
Apr-14
Oct-14
Apr-15
Oct-15
Apr-16
Oct-16
Apr-17
Oct-17
Apr-18
Oct-18
Apr-19
Oct-19
Apr-20
Oct-20
Apr-21
Oct-21
Apr-22
Oct-22
Apr-23
Oct-23
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product or serviceFuente:
or otherwiseINEI y BCRP. website for classroom use.
on a password-protected
En la región, la inflación ha ido retrocediendo desde sus máximos de 2022. Sin embargo, aún se mantiene
por encima de los rangos meta.
INFLACIÓN
(Var. % interanual)
Oct-23 Máximo post-pandemia
Ago-22; 14.1
Mar-22; 13.3
Abr-22; 11.8 Abr-22; 12.1
Oct-22; 11.1
Oct-22; 10.6 Set-22; 10.0
Jun-22; 9.1 Jun-22; 8.8 Ago-22; 8.7
Jun-22; 8.1
10.5
6.7
4.8 5.1
4.3 4.3 4.5
3.5 3.8
2.9 3.2
Eurozona Estados Paraguay Canadá* Uruguay Perú México Brasil Chile Reino Colombia
Unidos Unido*
*A setiembre de 2023. 22
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bancos scanned, or duplicated,
de cadain país.
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La inflación se ubicaría en 3,8 por ciento a fines de 2023 y entraría al rango meta en los primeros
meses de 2024. La reducción de la inflación en los próximos meses contribuiría a la recuperación
de la actividad económica.
PROYECCIÓN DE INFLACIÓN, 2023 – 2024
(Variación porcentual anual)
Pond. 2010-19 2019 2020 2021 2022 2023* 2024*
IPC 100,0 2,9 1,9 2,0 6,4 8,5 3,8 2,4
12 1. IPC sin alimentos y energía 55,3 2,4 2,3 1,8 3,2 5,6 3,0 2,4 12
11 a. Bienes 17,4 2,2 1,4 1,5 2,6 5,3 2,5 1,5 11
b. Servicios 37,9 2,6 2,9 1,9 3,6 5,7 3,3 2,8
10 2. Alimentos y energía 44,7 3,4 1,4 2,2 10,2 12,0 4,8 2,4 10
9 9
8 8
7 7
6 6
5 5
4 4
Máximo
Máximo
3 3
Rango
Rango meta
meta de 2 2
de inflación
inflación
Mínimo 1 1
Mínimo
0 0
-1 -1
-2 -2
-3 -3
2019 2020 2021 2022 2023* 2024*
23
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*Proyección.
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23
24-2 Inflación por Demanda
-Velocidad de circulación.
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24-3 Inflación por Oferta
INFLACIÓN POR OFERTA.- Es la inflación resultante de una
disminución en la oferta agregada debido a:
-Aumento en las tasas de salario.
-Aumento de los precios de materias primas clave.
-Aumento de los factores de producción.
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POLITICAS ANTINFLACIONARIAS
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CIUDADES MÁS CARAS PARA VIVIR EN AMÉRICA LATINA
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CIUDADES MÁS CARAS PARA VIVIR EN AMÉRICA LATINA
TABLA 2
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24-4 Corrección de las variables económicas
por los efectos de la inflación
Indexación
Los índices de precios se utilizan para corregir los efectos de la
inflación cuando se comparan cifras monetarias de diferentes
años.
Es la caída sostenida en el
nivel general de precios,
medido por algún índice. Las
deflaciones prolongadas, en
las que los precios bajan
ininterrumpidamente durante
varios años, van unidas a
periodos de depresión.
Ejemplo: Caso Japón
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24-4 Corrección de las variables económicas
por los efectos de la inflación
Tasas de interés real y nominal
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TASAS DE INTERÉS EN AMÉRICA LATINA
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TASAS DE INTERÉS EN AMÉRICA LATINA
FIGURA 3
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TASAS DE INTERÉS EN AMÉRICA LATINA
FIGURA 3
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TASAS DE INTERÉS EN AMÉRICA LATINA
Observaciones
Deflación en Argentina entre 1992 y 2002
Tasa de interés real > tasa de interés nominal
En 2004 resurge la inflación: tasa de interés real negativa
Tasa de interés real relativamente alta en algunos países
Las tasas de interés nominales disminuyeron en casi todos los
países de la región entre 2012 y 2013 con excepción de Argentina
Hiperinflación en Venezuela
Tasa de interés real (2017) : -86% anual
Las tasas de interés nominal y real no siempre se mueven juntas
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24-5 Conclusión
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TRANSFERENCIA
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Actividad en el salón
Desarrollar en clase la Guía de Ejercicios correspondiente al capítulo 24 del libro de Mankiw del tema de
Desempleo. Deseable que trabajen en parejas para el desarrollo de los ejercicios. Los alumnos deben salir a
explicar la solución frente al salón.
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CIERRE
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Actividad de cierre
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Referencias
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product or service or otherwise on a password-protected website for classroom use.
Instituto Nacional de Estadística e Informática (INEI): www.inei.gob.pe
Mankiw, N. G. (2020). Principios de Economía (8.ª ed.). Cengage Learning. Código Biblioteca. U.
Lima: 330 M224 2020.
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