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Monetary policy and dutch disease: the case of price and wage rigidity

dc.contributor.authorHevia, Constantino
dc.contributor.authorNicolini, Juan Pablo
dc.date.accessioned2019-11-01T00:06:37Z
dc.date.available2019-11-01T00:06:37Z
dc.date.issued2014
dc.identifier.isbn978-956-7421-50-3
dc.identifier.urihttps://hdl.handle.net/20.500.12580/3835
dc.descriptionFrom a theoretical point of view and as we will show the presence of both price and wage rigidities implies that to the extent that fiscal policy is unresponsive to shocks full price stability is not optimal. In this paper we study optimal monetary and exchange rate policy in a small open economy with both types of rigidity following a shock to the price of an exportable commodity. This paper is part of a research project that is motivated by the experiences of many small open economies that in the last two decades became—very effectively!—inflation targeters. Many of these economies are commodity producers and the size of the commodity sector to GDP is very high.
dc.format.pdf
dc.format.extentSección o Parte de un Documento
dc.format.mediump. 51-89
dc.language.isoeng
dc.publisherBanco Central de Chile
dc.relation.ispartofSeries on Central Banking Analysis and Economic Policies no. 22
dc.rightsAttribution-NonCommercial-NoDerivs 3.0 Chile*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/cl/*
dc.subjectPOLÍTICA MONETARIAes_ES
dc.subjectPRECIOSes_ES
dc.subjectSALARIOSes_ES
dc.subjectPOLÍTICA FISCALes_ES
dc.titleMonetary policy and dutch disease: the case of price and wage rigidity
dc.type.docArtículo
dc.file.nameBCCh-sbc-v22-p051_089


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