The Central Bank presented the results of seven investigations during the last two years. Economic Research Conference 2025, and these are their main findings.
First, a study showed that analyzing each of the 289 items of the Consumer Price Index significantly improves inflation forecasts, providing more accurate tools for monetary policy.
Second, it was found that inflation reacts up to six times more when the exchange rate varies due to internal factors, such as interest rate adjustments, than when it does so due to external pressures.
The third study compared the PIX, SINPE Móvil and CoDi systems, and found that mass adoption of digital payments depends on reducing the gap between high- and low-income users.
The fourth paper presented the first growth-at-risk estimate for Costa Rica, showing how external factors such as U.S. growth differentially influence different economic scenarios.
A fifth study analyzed data from 2019 to 2022 and showed that extreme weather events temporarily alter spending: heavy rains reduce purchases such as fuel and lodging, while droughts increase them.
The sixth analysis revealed that, although the manufacturing industry has improved, an optimal reallocation of labor and capital could raise its productivity by 64% to 88%.
And finally, a study on cryptocurrencies showed that, although 60% of the population has heard of them, only 2% actually use them, mainly young people with high incomes.
This is a news service prepared by ICS. For more information about the story, write to info@ics.cr or call 2519-9992 ICS, tax specialists.