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Schmidt-Hebbel, Klaus (11)
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Monetary policy under inflation targeting: an introduction 

Autor
Mishkin, Frederic S.; Schmidt-Hebbel, Klaus
Fecha
Banco Central de Chile, 2007
Temas
POLÍTICA MONETARIA; INFLACIÓN; TIPO DE CAMBIO
With the end of intermediate exchange rate regimes, countries are either abandoning domestic monetary policy (by choosing super-hard pegs or relinquishing their national currencies altogether) or strengthening independent monetary policymaking (by adopting floating exchange rates, of either the clean ...
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Monetary policy under uncertainty and learning: an overview 

Autor
Schmidt-Hebbel, Klaus; Walsh, Carl E.
Fecha
Banco Central de Chile, 2009
Temas
POLÍTICA MONETARIA; BANCOS CENTRALES; TASAS DE INTERÉS; INFLACIÓN; MODELOS ESTOCÁSTICOS
Central bank economists and academic economists conducting research on the design of monetary policy have made significant advances in recent years. This work has led to a clearer understanding of the desirable properties of interest rate rules, the role of announcements and communication, and the ...
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General equilibrium models: an overview 

Autor
Chumacero, Rómulo; Schmidt-Hebbel, Klaus
Fecha
Banco Central de Chile, 2005
Temas
EQUILIBRIO (ECONOMÍA)
The development of general equilibrium models (GEMs) goes back a long way in economics, both at a theoretical level and as a tool for empirical analysis. General equilibrium theory and modeling have proved to be relevant and useful for understanding economic interactions between markets and agents in ...
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Monetary policy and key unobservables: evidence from large industrial and selected inflation-targeting countries 

Autor
Schmidt-Hebbel, Klaus; Walsh, Carl E.
Fecha
Banco Central de Chile, 2009
Temas
POLÍTICA MONETARIA; INFLACIÓN; DESEMPLEO
In recent years, the design of monetary policy has focused on gaps—the output gap, the interest rate gap, and the unemployment rate gap have all played a role in policy discussions. Standard models used for policy analysis are either specified in terms of such gaps or imply important roles for these ...
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Why do countries have fiscal rules? 

Autor
Elbadawi, Ibrahim; Schmidt-Hebbel, Klaus; Soto, Raimundo
Fecha
Banco Central de Chile, 2015
Temas
POLÍTICA FISCAL
Professor Vittorio Corbo in whose honor this conference is organized has an outstanding academic and professional career that spans teaching research policy making and advice provided to the private sector international institutions and governments. In the latter capacity of government advisor he ...
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External conditions and growth performance 

Autor
Calderón, César; Loayza O., Norman; Schmidt-Hebbel, Klaus
Fecha
Banco Central de Chile, 2006
Temas
DESARROLLO ECONÓMICO; MERCADO DE CAPITALES
A central dimension of globalization is the world trend toward larger trade and financial openness, observed in most industrial and developing economies. Openness increases the integration of world goods and capital markets, contributing to potential gains in growth and welfare. However, increased ...
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Why do countries have fiscal rules? 

Autor
Elbadawi, Ibrahim; Schmidt-Hebbel, Klaus; Soto, Raimundo
Fecha
Banco Central de Chile, 2015-12
Temas
POLÍTICA FISCAL
y el cabildeo del sector privado. Estos objectivos fiscales son compartidos por la mayoría de los países del mundo. La pregunta que surge es: ¿Por qué unos países adoptan una regla fiscal y otros países no? Responderla pasa por identificar bajo qué...
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Does inflation targeting make a difference? 

Autor
Mishkin, Frederic S.; Schmidt-Hebbel, Klaus
Fecha
Banco Central de Chile, 2007
Temas
INFLACIÓN
Since New Zealand adopted inflation targeting in 1990, a steadily growing number of industrial and emerging economies have explicitly adopted an inflation target as their nominal anchor. Eight industrial countries and thirteen emerging economies had full-fledged inflation targeting in place in early ...
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General equilibrium dynamics of external shocks and policy changes in Chile 

Autor
Gallego Yáñez, Francisco; Schmidt-Hebbel, Klaus; Servén, Luis
Fecha
Banco Central de Chile, 2005
Temas
EQUILIBRIO (ECONOMÍA); MACROECONOMÍA
This paper explores Chile’s macroeconomic dynamics with the help of a general equilibrium model parameterized for the Chilean economy. The model is based on microanalytic foundations, and its basic relations are derived from intertemporal optimization by a group of forward-looking agents endowed with ...
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A decade of inflation targeting in the world: what do we know and what do we need to know? 

Autor
Mishkin, Frederic S.; Schmidt-Hebbel, Klaus
Fecha
Banco Central de Chile, 2002
Temas
INFLACIÓN; BANCOS CENTRALES; POLÍTICA MONETARIA
The emergence of inflation targeting over the last ten years represents an exciting development in central banks' approach to the conduct of monetary policy. After initial adoption by New Zealand in 1990, a growing number of central banks in industrial and emerging economies have opted for inflation ...
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