Inflation targeting can be broadly defined as a framework for the conduct of MONETARY POLICY in which the central bank guides its instruments in order to hold inflation near a preannounced target or to bring back to the target. Although understanding the framework is straightfoward, its practical ...

The international financial crisis and Great Recession of 2008- 09 called for a range of significant policy measures by central banks beyond aggressive interest rate cuts. Measures have ranged from improving international coordination to purchasing local private loan portfolios and direct intervention ...

The objective in building and specifying macroeconomic models is to reflect the main characteristics of an economy in a stylized way. This article describes a macroeconometric model for the Chilean economy. The aim of the model is to forecast the main macroeconomic variables, along with policy exercises ...