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Author
Williamson, John (2)
Orphanides, Athanasios 1965- (1)
Subject
POLÍTICA MONETARIA (2)BANCO CENTRAL DE CHILE (1)BANCOS CENTRALES (1)DESARROLLO ECONÓMICO (1)TIPO DE CAMBIO (1)... View More
Date Issued
2009 (1)2008 (1)
Document Type
Artículo (2)
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Imperfect knowledge and the pitfalls of optimal control monetary policy 

Author
Orphanides, Athanasios 1965-; Williamson, John
Date
Banco Central de Chile, 2009
Subject
POLÍTICA MONETARIA; BANCOS CENTRALES
Sixty years ago, Milton Friedman questioned the usefulness of the optimal control approach because of policymakers’ imperfect knowledge of the economy and favored instead a simple rule approach to monetary policy (1947, 1948). These are still live issues, despite the development of powerful techniques ...
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Do development considerations matter for exchange rate policy? 

Author
Williamson, John
Date
Banco Central de Chile, 2008
Subject
TIPO DE CAMBIO; POLÍTICA MONETARIA; DESARROLLO ECONÓMICO; BANCO CENTRAL DE CHILE
Chile was one of the world’s fastest-growing economies in the 1990s. Its growth rate of 6.8 percent per year from 1990 to 2000 (inclusive) was the seventh highest in the world, and by far the highest in Latin America. Poverty was halved, and while this was overwhelmingly due to growth rather than a ...
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