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General equilibrium dynamics of external shocks and policy changes in Chile

dc.contributor.authorGallego Yáñez, Francisco
dc.contributor.authorSchmidt-Hebbel, Klaus
dc.contributor.authorServén, Luis
dc.coverage.spatialCHILEes_ES
dc.date.accessioned2019-11-01T00:02:39Z
dc.date.available2019-11-01T00:02:39Z
dc.date.issued2005
dc.identifier.isbn956-7421-21-8
dc.identifier.urihttps://hdl.handle.net/20.500.12580/3695
dc.descriptionThis 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 rational expectations. The economy’s short-term equilibrium thus depends on the current and anticipated future paths of policy and external variables. The model also introduces critical real-world features—such as short-run wage rigidities and a group of myopic agents—that generate deviations from the frictionless full-employment equilibrium of the unconstrained neoclassical paradigm.
dc.format.pdf
dc.format.extentSección o Parte de un Documento
dc.format.mediump. 113-162
dc.language.isoeng
dc.publisherBanco Central de Chile
dc.relation.ispartofSeries on Central Banking, Analysis, and Economic Policies, no. 9
dc.rightsAttribution-NonCommercial-NoDerivs 3.0 Chile*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/cl/*
dc.subjectEQUILIBRIO (ECONOMÍA)es_ES
dc.subjectMACROECONOMÍAes_ES
dc.titleGeneral equilibrium dynamics of external shocks and policy changes in Chile
dc.type.docArtículo
dc.file.nameBCCh-sbc-v09-p113_162


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