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Capital mobility and monetary policy
The papers that comprise the different chapters of this volume were presented in the XVII Annual Conference on Central Banking that took place at the Central Bank of Chile, Santiago, during November 14 and 15, 2011. While the global economic environment has changed considerably from the end of 2011 ...
Monetary policy: rules and transmission mechanisms
Monetary policy must consider the bidirectional relationship between the economy and its central bank. It should therefore address two essential questions: first, how changes in the economy induce a reaction by the central bank, and second, how these policy changes are in turn transmitted to the ...
Monetary policy and global spillovers: mechanisms, effects and policy measures
Central Banks in emerging markets have been forced in the last decade to deal with spillovers from the crises in the United States and Europe and from the extraordinary measures respectively taken by the Federal Reserve and the European Central Bank. This volume provides a comprehensive study of the ...
Monetary policy under inflation targeting
Inflation targeting cum exchange-rate floating has become the framework of choice in countries pursuing an independent and effective monetary policy. Since its adoption by New Zealand (1990) and Chile (1991), central banks of nearly 25 industrial and emerging economies have implemented an explicit ...
Fiscal policy and macroeconomic performance
The fiscal developments around the global financial crisis of 2007-2009 and its aftermath are undoubtedly a major factor behind that comeback. The large fiscal stimulus packages adopted by many countries in the face of large adverse shocks have triggered an unusually heated debate among academics, ...
General equilibrium models for the Chilean economy
General equilibrium theory and modeling have proved to be useful for understanding economic interactions between markets and agents and the determination of prices and quantities. Applied general equilibrium models (GEM) have been developed and used to address a wide range of theoretical questions and ...