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Acta Nº226
Durante el período 1930-1932, el Banco Central de Chile tuvo que hacer frente a la crisis económica más importante que se había experimentado hasta entonces. En ese escenario, la institución debió tomar decisiones en materia del sistema monetario (patrón de cambio oro) y ejecutar operaciones solicitadas ...
Acta de Consejo N°226
Acta mecanografiada
Optimal inflation targeting: further developments of inflation targeting
Inflation targeting was first introduced in 1990, in New Zealand. Since then it has been adopted by more than twenty countries. This period of fifteen years has seen major progress in practical monetary policy. In particular, the practice of inflation targeting has led to a more systematic and consistent ...
Acta N°1191
Acta manuscrita
Acta N°2043
Acta manuscrita
A decade of inflation targeting in the world: what do we know and what do we need to know?
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 ...
Politics and the determinants of banking crises: the effects of political checks and balances
There is likely to be little disagreement with the observation that political interference has exacerbated the problems associated with bank insolvencies. Nevertheless, most ot the analytical attention given to bank crises has focused on technocratic mistakes (inappropriate regulatory choices), exogenous ...
Acta No. 72
Durante los primeros cinco años de operación, el Banco Central de Chile desarrolló con normalidad actividades vinculadas al mercado del crédito, la banca, además de tomar decisiones administrativas concernientes a la expansión del Banco en provincias. Mientras el Banco se ampliaba por las distintas ...
The 1997-98 liquidity crisis: Asia versus Latin America
Four years after its outbreak, the Asian crisis continues to confound experts: a region whose countries had long been considered paragons of successful economic development is mired in financial collapse and deep recession. By contrast, Latin America -with the important exceptions of Brazil and Ecuador- ...
Overshootings and reversals: the role of monetary policy
Does tight monetary policy stabilize the currency after a collapse?. Does the effect of high interest rates on the exchange rate depend on the condition of the banking system? The East Asian crises and other recent currency crises have put these questions at the center of economic policymaking decisions.