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Inflation targeting and the liquidity trap
This paper considers whether issues regarding liquidity trap or zero lower bound phenomena substantially affect the case for inflation targeting, in comparison with other possible strategies for conducting monetary policy. It examines both theoretical and empirical issues and, in the latter case, ...
El miedo a flotar y la política cambiaria en Chile
Este artículo revisa las políticas de manejo cambiario en Chile, poniendo particular énfasis en el régimen de tipo de cambio flotante implementado en 1999 y los dos episodios de intervención cambiaria posteriores a este. Se presenta evidencia de las favorables condiciones existentes en Chile para ...
Controles de capital y política cambiaria
El análisis empírico de este estudio sugiere que un objetivo de política cambiaria y el temor de un sobrecalentamiento de la economía nacional han sido los dos motivos más importantes para la (re) introducción y persistencia de los controles de capital de la última década. Los controles de capital se ...
The effects of U.S. monetary policy on emerging market economies’ sovereign and corporate bond markets
The global environment for emerging market economy (EME) bond markets has changed dramatically over the past few decades. Local currency bond markets (LCBMs) have developed especially in EMEs with low inflation stronger institutions and well defined creditor rights (see Burger and Warnock 2003 2006 ...
Under what conditions can inflation targeting be adopted? The experience of emerging markets
Inflation targeting has become an increasingly popular monetary policy strategy, with 21 countries (8 industrial and 13 emerging market economies) targeting inflation and others considering following in their footsteps. Numerous studies of inflation targeting in industrial countries have been conducted, ...