Exchange-rate variations and the rate of inflation in emerging economies

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cepal.bibLevelSección o Parte de un Documento
cepal.callNumberLC/G.2643-P
cepal.docTypeRevistas
cepal.jelCodeE52
cepal.jelCodeF21
cepal.jelCodeF33
cepal.jobNumberRVI116_Garcia-Solanesetal
cepal.physicalDescriptiondiagramas., gráficos.
cepal.regionalOfficeSantiago
cepal.sdg17
cepal.topicEngMACROECONOMICS
cepal.topicSpaMACROECONOMÍA
cepal.workareaEngECONOMIC DEVELOPMENT
cepal.workareaSpaDESARROLLO ECONÓMICO
dc.contributor.authorTorrejón-Flores, Fernando
dc.contributor.authorGarcía-Solanes, José
dc.coverage.spatialEngLATIN AMERICA AND THE CARIBBEAN
dc.coverage.spatialSpaAMERICA LATINA Y EL CARIBE
dc.date.accessioned2015-12-21T18:57:40Z
dc.date.available2015-12-21T18:57:40Z
dc.date.issued2015-08
dc.description.abstractThis paper develops a structural general equilibrium model to analyse the reactions of the nominal exchange rate and the domestic price level to three types of external shock in emerging economies that have limited access to world capital markets. Although the results depend crucially on the type of external shock, each of the two national balance-sheet parameters considered here —the risk premium and the ratio of external indebtedness— exacerbates the reactions of the two endogenous variables without altering the degree of exchange-rate pass-through (erpt). Moreover, flatter Phillips curves, as observed today in many economies, tend to increase erpt. On the basis of these results, the authorities of emerging economies seeking to stabilize markets and limit erpt are advised to minimize the two risk parameters by applying a flexible inflation-targeting regime.
dc.formatTexto
dc.format.extentpáginas. 27-4
dc.format.mimetypeapplication/pdf
dc.identifier.unSymbolLC/G.2643-P
dc.identifier.urihttps://hdl.handle.net/11362/39604
dc.language.isoeng
dc.physicalDescriptionp. 27-45; diagrs., grafs.
dc.relation.isPartOfCEPAL Review
dc.relation.isPartOfNo116
dc.relation.isPartOfSeriesCEPAL Review
dc.relation.translationLanguagespa
dc.relation.translationRecordLas variaciones del tipo de cambio y el índice de inflación en las economías emergentes
dc.relation.translationUrihttps://hdl.handle.net/11362/38790
dc.rights.coarDisponible
dc.subject.unbisEngFOREIGN EXCHANGE RATES
dc.subject.unbisEngPRICES
dc.subject.unbisEngCAPITAL MARKETS
dc.subject.unbisEngECONOMETRIC MODELS
dc.subject.unbisEngMACROECONOMICS
dc.subject.unbisEngEMERGING MARKETS
dc.subject.unbisSpaTIPOS DE CAMBIO
dc.subject.unbisSpaPRECIOS
dc.subject.unbisSpaMERCADOS DE CAPITAL
dc.subject.unbisSpaMODELOS ECONOMETRICOS
dc.subject.unbisSpaMACROECONOMIA
dc.subject.unbisSpaMERCADOS EMERGENTES
dc.titleExchange-rate variations and the rate of inflation in emerging economies
dc.type.coarrevista
dspace.entity.typePublication
relation.isAuthorOfPublication817137d8-e29a-491d-a670-38fe4251d116
relation.isAuthorOfPublication2ccdbb43-84bb-495f-b7eb-9c0f49e681ad
relation.isAuthorOfPublication.latestForDiscovery817137d8-e29a-491d-a670-38fe4251d116
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