Buscar
Mostrando ítems 11-20 de 44
Inflation target transparency and the macroeconomy
Over the last twenty years, many central banks have adopted increasing standards of transparency in communicating their monetary policy objectives, in particular regarding the explicit definition and quantification of their price stability objective or inflation target. One important benefit of increased ...
Does inflation targeting make a difference?
Since New Zealand adopted inflation targeting in 1990, a steadily growing number of industrial and emerging economies have explicitly adopted an inflation target as their nominal anchor. Eight industrial countries and thirteen emerging economies had full-fledged inflation targeting in place in early ...
Managing the capital account
Globalization has been under attack over the last few years. Activists, famous academics, and commentators of various stripes have mounted a systematic campaign against free trade in goods and, especially, in financial claims. One of the latest manifestations of this antiliberalization mood was the ...
New keynesian models for Chile in the inflation-targeting period
Dynamic stochastic general equilibrium (DSGE) models with nominal rigidities have become a popular tool for monetary policy analysis in recent years. The basic sticky price model has been enriched to include additional sources of nominal and real rigidities. These additional elements have been introduced ...
What drives the current account in commodity exporting countries?: the cases of Chile and New Zealand
As capital markets have become increasingly integrated, savings and investment within countries have tended to become less correlated, in what is known as the Feldstein-Horioka (1980) correlation, with the corollary that savings-investment gaps (that is, current accounts) have tended to become more ...
La demanda de dinero por motivo transacción en Chile
Este artículo analiza la demanda de dinero por motivo transacción en Chile entre los años 1986 y 2000. Utilizando el método de cointegración propuesto por Johansen (1995), se encuentra que, pese a que los datos macroeconómicos en Chile muestran una fuerte estacionariedad en tendencia, es posible ...
Cambios estructurales en la demanda por trabajo en Chile
La capacidad de generar empleo en la economía Chilena ha sido sorpresivamente lenta durante 2000 y 2001. A pesar de que el crecimiento del producto ha sido positivo desde agosto de 1999 la tasa de desempleo no ha disminuido como se esperaba. Una hipótesis que se ha levantado para explicar este fenómeno ...
Régimen de metas de inflación y credibilidad de la política monetaria en Chile
En este artículo presentamos nueva evidencia de cambios recientes en la dinámica inflacionaria en Chile. Mostramos que las rigideces de precios han aumentado, mientras el grado de indexación a la inflación pasada ha decrecido a lo largo del tiempo. También mostramos que el traspaso del tipo de cambio ...
Concentración, hold-up e información de las colocaciones bancarias: evidencia de empresas Chilenas
El artículo contiene un estudio empírico de la relación banco-cliente, basado en una muestra de empresas manufactureras Chilenas. En él se analiza si la concentración y la duración de la relación entre deudor y acreedor afectan el volumen de endeudamiento bancario. Los resultados indican que la menor ...
Under what conditions can inflation targeting be adopted? The experience of emerging markets
Inflation targeting has become an increasingly popular monetary policy strategy, with 21 countries (8 industrial and 13 emerging market economies) targeting inflation and others considering following in their footsteps. Numerous studies of inflation targeting in industrial countries have been conducted, ...