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Author
Galí, Jordi (6)
Céspedes, Luis Felipe (3)Fornero, Jorge (2)Castex, Gonzalo (1)Gambetti, Luca (1)... View More
Subject
POLÍTICA FISCAL (3)GASTOS PÚBLICOS (2)INFLACIÓN (2)CRISIS FINANCIERA (1)DESARROLLO ECONÓMICO (1)... View More
Date Issued
2010 - 2020 (5)2002 - 2009 (1)
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Artículo (6)
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Changing inflation dynamics, evolving monetary policy: an overview 

Author
Castex, Gonzalo; Galí, Jordi; Saravia, Diego
Date
Banco Central de Chile, 2020
Subject
INFLACIÓN; POLÍTICA MONETARIA
Understanding the dynamics of inflation has become an important challenge for both policymakers and researchers over the past decade. Empirical models linking inflation and economic activity—versions of the so-called Phillips curve—have failed to account for the behavior of inflation in many ...
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Targeting inflation in an economy with staggered price setting 

Author
Galí, Jordi
Date
Banco Central de Chile, 2002
Subject
INFLACIÓN; PRECIOS; DESARROLLO ECONÓMICO
After experiencing high and persistent inflation rates in the 1970s and early 1980s, most industrialized economies entered the new century with a sustained record of flow, stable inflation rates. Many commentators attribute the new environment to good luck, in the form of no major supply shocks (at ...
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Aspectos no ricardianos de la política fiscal en Chile 

Author
Céspedes, Luis Felipe; Fornero, Jorge; Galí, Jordi
Date
Banco Central de Chile, 2011-08
Subject
POLÍTICA FISCAL; GASTOS PÚBLICOS
Este artículo analiza los efectos no ricardianos de los shocks al gasto fiscal en Chile. Comenzamos presentando evidencia de tales efectos basados en vectores autorregresivos. Luego mostramos que dicha evidencia puede modelarse en un modelo que contemple: (i) una fracción considerable de hogares no ...
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Non-ricardian aspects of fiscal policy in Chile 

Author
Céspedes, Luis Felipe; Fornero, Jorge; Galí, Jordi
Date
Banco Central de Chile, 2013
Subject
POLÍTICA FISCAL; GASTOS PÚBLICOS
In this paper we examine the effects of government spending shocks in the Chilean economy. The study of the effects of such shocks in an emerging market economy is of special interest because of the potential presence of non-Ricardian households that is households that do not own any assets or have ...
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Has the U.S. wage phillips curve flattened? A semi-structural exploration 

Author
Galí, Jordi; Gambetti, Luca
Date
Banco Central de Chile, 2020
Subject
CRISIS FINANCIERA; DESEMPLEO
The deep and prolonged recession triggered by the global financial crisis of 2007–2009 led to a large increase in the unemployment rate in most advanced economies. Ten years later, at the time of writing this paper, the recession has long ended, and the subsequent recoveries have brought the ...
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Fiscal policy and macroeconomic performance: an overview 

Author
Céspedes, Luis Felipe; Galí, Jordi
Date
Banco Central de Chile, 2013
Subject
POLÍTICA FISCAL; MACROECONOMÍA
After two decades of relative neglect fiscal policy is back at the center of the economics research agenda. The fiscal developments around the global financial crisis of 2007–09 are undoubtedly a major factor behind that comeback. The large fiscal stimulus packages adopted by many countries in the ...
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