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Mostrando ítems 141-150 de 497
Política monetaria en tiempos complejos
Durante los últimos años la economía chilena ha sufrido shocks importantes que han implicado un gran desafío para la conducción de la política monetaria. El fin del súper ciclo de las materias primas y condiciones financieras internacionales más estrechas junto con una caída importante en los niveles ...
Current account deficits: the Australian debate
Large and persistent current account deficits are frequently raised as a cause for concern for a number of reasons. Perhaps the key concern is that countries in this situation could be on a path to insolvency, building up excessive net foreign debt, raising the prospects of default or a sharp reversal ...
Household financial vulnerability
Household indebtedness in Chile has received considerable attention in recent years because of the financial deepening process underway in the economy. Although various macroeconomic indicators show significant increases in the last decade, there are few tools for evaluating the real vulnerability of ...
Optimal monetary policy in a small, open economy: a general-equilibrium analysis
The two central issues in monetary policy are separated by time horizon. The first relates to the short run: what is the appropriate monetary policy across the business cycle? The second relates to the long run: waht is the optimal long-run rate of inflation? This paper explores these classic issues ...
Crecimiento de la productividad de la inversión: Chile desde una perspectiva mundial
A fines del 2007 la productividad total de factores de Chile era inferior a sus valores de diez años antes, en fuerte contraste con la década anterior, en la que la productividad acumuló un crecimiento de 30 por ciento. El presente artículo evalúa las tendencias de la productividad en Chile, distinguiendo ...
Transmisión de shocks y acoplamiento con mercados accionarios externos: efectos asimétricos y quiebre estructural
Analizamos la transmisión de shocks desde los principales mercados bursátiles desarrollados —Tokio, Nueva York, París y Frankfurt— hacia el mercado de Santiago, controlando por el de Sao Paulo. Nuestra investigación se concentra en los episodios de 2007 y 2008, donde la transmisión pasó desde los ...
The nonpuzzling behavior of median inflation
For decades, textbooks have explained inflation behavior with
Friedman (1968)’s Phillips curve: the inflation rate depends on
expected inflation and the deviation of unemployment from its natural
rate. Yet this theory has always been controversial, and skepticism
has been rampant in the decade ...
Central banking after the crisis
By the mid-2000s both academics and central banks had come to a remarkable consensus on what central banks’ basic strategy should be. However with the collapse of Lehman Brothers in September 2008 the world of central banking changed forever. The worldwide financial crisis revealed that some of the ...
Denominación de la deuda del gobierno de Chile: una perspectiva de manejo de riesgos
Este trabajo propone un marco de análisis para evaluar la conveniencia de la denominación actual de la deuda del Gobierno Central de Chile, a través del efecto en el riesgo asociado al resultado fiscal. Se propone una metodología tipo VaR (Valor en riesgo) para comparar denominaciones alternativas de ...
Experiences with current account deficits in Southeast Asia
In the 1990s, Southeast Asia experienced very rapid growth associated with large and persistent current account deficits. The episode lasted from 1990 to around 1996, ending with the outbreak of the Asian crisis in 1997–98. Current account deficits peaked at around 10 percent of gross domestic product ...