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Sources of uncertainty in conducting monetary policy in Chile
Monetary policy is made in an environment of substantial uncertainty. Consequently, academic researchers have sought to formally demonstrate the implications of uncertainty, as well as the ways in which central banks can manage it. The theoretical literature on uncertainty distinguishes between three ...
Credibility and inflation targeting in Chile
After a long history of high and volatile inflation, the Central Bank of Chile began implementing its monetary policy in the early 1990s by announcing yearly targets for inflation. This new framework was the first step toward a full-fledged inflation-targeting setup, although the Central Bank continued ...