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General equilibrium dynamics of external shocks and policy changes in Chile
| dc.contributor.author | Gallego Yáñez, Francisco | |
| dc.contributor.author | Schmidt-Hebbel, Klaus | |
| dc.contributor.author | Servén, Luis | |
| dc.coverage.spatial | CHILE | es_ES |
| dc.date.accessioned | 2019-11-01T00:02:39Z | |
| dc.date.available | 2019-11-01T00:02:39Z | |
| dc.date.issued | 2005 | |
| dc.identifier.isbn | 956-7421-21-8 | |
| dc.identifier.uri | https://hdl.handle.net/20.500.12580/3695 | |
| dc.description | This paper explores Chile’s macroeconomic dynamics with the help of a general equilibrium model parameterized for the Chilean economy. The model is based on microanalytic foundations, and its basic relations are derived from intertemporal optimization by a group of forward-looking agents endowed with rational expectations. The economy’s short-term equilibrium thus depends on the current and anticipated future paths of policy and external variables. The model also introduces critical real-world features—such as short-run wage rigidities and a group of myopic agents—that generate deviations from the frictionless full-employment equilibrium of the unconstrained neoclassical paradigm. | |
| dc.format | ||
| dc.format.extent | Sección o Parte de un Documento | |
| dc.format.medium | p. 113-162 | |
| dc.language.iso | eng | |
| dc.publisher | Banco Central de Chile | |
| dc.relation.ispartof | Series on Central Banking, Analysis, and Economic Policies, no. 9 | |
| dc.rights | Attribution-NonCommercial-NoDerivs 3.0 Chile | * |
| dc.rights.uri | http://creativecommons.org/licenses/by-nc-nd/3.0/cl/ | * |
| dc.subject | EQUILIBRIO (ECONOMÍA) | es_ES |
| dc.subject | MACROECONOMÍA | es_ES |
| dc.title | General equilibrium dynamics of external shocks and policy changes in Chile | |
| dc.type.doc | Artículo | |
| dc.file.name | BCCh-sbc-v09-p113_162 |
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