• The bank lending channel across time and space 

  Corbae, Dean; D’Erasmo, Pablo (Banco Central de Chile, 2024)

  We build a model of banking industry dynamics with imperfect competition to address the following question: How does monetary policy affect lending outcomes across time, given the spatial expansion of the banking industry? ...
• Measuring the redistributive effects of monetary policy: an application to the chilean economy 

  Luttini, Emiliano; Pastén, Ernesto; Rubbo, Elisa (Banco Central de Chile, 2024)

  Active recent literature shows that monetary policy has heterogeneous effects on workers in different demographic groups.1 In this paper, we build on the framework in Rubbo (2023) to estimate how monetary policy affects ...
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  Haok and hank models 

  Sargent, Thomas J. (Banco Central de Chile, 2024)

  Accounting for and managing heterogeneities in economic agents’ preferences, information sets, and opportunities have always been central to macroeconomic theory. Long before macroeconomics existed as a distinct field, ...
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  Heterogeneity in macroeconomics: implications for monetary policy an overview 

  Bauducco, Sofía; Fernández, Andrés; Violante, Giovanni L. (Banco Central de Chile, 2024)

  This volume collects some of the papers presented at the XXV Annual Conference of the Central Bank of Chile, which took place in November 2022 in Santiago, Chile.1 The theme of the conference was Heterogeneity in ...
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  Managing an energy shock: fiscal and monetary policy 

  Auclert, Adrien; Monnery, Hugo; Rognlie, Matthew; Straub, Ludwig (Banco Central de Chile, 2024)

  Prepared for the Proceedings of the XXV Annual Conference of the Central Bank of Chile, held in November 2022. We are grateful for helpful comments and suggestions from Jenny Chan, Sebastián Edwards, Jordi Galí, Peter ...

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