For decades until the early 1990s, Latin America was the region of the world with the highest average level of inflation. High inflation was the cumulative result of a long history of activist economic policies based on a disregard for macroeconomic stability. These policies culminated in large ...

Monetary policy design has experienced major changes over the last twenty years. These changes had their origin in changes in macroeconomic theory, a better understanding of the importance of achieving and maintaining low inflation, and the abandonment of fixed pegs in favor of floating exchange rate ...

El Banco Central de Chile se creó en 1925, para 'dotar al país de una institución que estabilice la moneda y regule las tasas de intereses y descuentos, para evitar perturbaciones en el desenvolvimiento industrial y financiero de la Nación y fomentar su progreso económico' (Decreto Ley Nº 486, 22 de ...

La creación de un banco central autónomo tuvo su origen en la Ley Orgánica Constitucional (LOC) del Banco Central de Chile (BCCh) del 10 de octubre de 1989 que le fijo? el claro objetivo de velar por la estabilidad de la moneda y el normal flujo de los pagos internos y externos del país. Para poder ...

Inflation targeting is the new kid on the block of monetary regimes. Since New Zealand and Chile first adopted the regime in 1990, a growing number of industrial and developing countries have followed suit, anchoring their monetary policy to explicit targets for inflation.