Asymmetric monetary and exchange-rate policies in Latin American countries that use inflation targeting

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cepal.articleNo2
cepal.bibLevelSección o Parte de un Documento
cepal.callNumberLC/PUB.2018/6-P
cepal.docTypeRevistas
cepal.jelCodeE58
cepal.jelCodeF30
cepal.jelCodeF43
cepal.jobNumberRVI125_Libman
cepal.physicalDescriptiongráficos., tablas.
cepal.regionalOfficeSantiago
cepal.topicEngECONOMETRICS
cepal.topicEngFINANCIAL AND MONETARY SECTOR
cepal.topicEngINFLATION
cepal.topicEngMACROECONOMICS
cepal.topicEngPRICES
cepal.topicSpaECONOMETRÍA
cepal.topicSpaINFLACIÓN
cepal.topicSpaMACROECONOMÍA
cepal.topicSpaPRECIOS
cepal.topicSpaSECTOR FINANCIERO Y MONETARIO
cepal.workareaEngECONOMIC DEVELOPMENT
cepal.workareaSpaDESARROLLO ECONÓMICO
dc.contributor.authorLibman, Emiliano
dc.coverage.spatialEngBRAZIL
dc.coverage.spatialEngCHILE
dc.coverage.spatialEngCOLOMBIA
dc.coverage.spatialEngLATIN AMERICA
dc.coverage.spatialEngMEXICO
dc.coverage.spatialEngPERU
dc.coverage.spatialSpaAMERICA LATINA
dc.coverage.spatialSpaBRASIL
dc.coverage.spatialSpaCHILE
dc.coverage.spatialSpaCOLOMBIA
dc.coverage.spatialSpaMEXICO
dc.coverage.spatialSpaPERU
dc.date.accessioned2018-12-18T20:14:47Z
dc.date.available2018-12-18T20:14:47Z
dc.date.issued2018-08-18
dc.description.abstractIn recent decades, Latin American countries have adopted more flexible exchange-rate regimes and set inflation targets. Several authors argue that some countries’ monetary and exchange-rate policies suffer from a procyclical bias, whereby central banks are reluctant to reduce interest rates when inflation falls, but are willing to increase them when inflation edges up. Therefore, the exchange rate tends to appreciate a lot and depreciate little. This paper analyses the asymmetry of the monetary and exchange rate policies of the five largest Latin American countries in which inflation targets are used: Brazil, Chile, Colombia, Mexico and Peru. Nonlinear econometric techniques are used to show that there is "fear of floating", except possibly in Chile and Peru, and that the symptoms are more pronounced in Brazil and Mexico.
dc.formatTexto
dc.format.extentpáginas. 29-4
dc.format.mimetypeapplication/pdf
dc.identifier.unSymbolLC/PUB.2018/6-P
dc.identifier.urihttps://hdl.handle.net/11362/44318
dc.language.isoeng
dc.physicalDescriptionp. 29-44; grafs., tabls.
dc.relation.isPartOfCEPAL Review
dc.relation.isPartOfNo125
dc.relation.isPartOfSeriesCEPAL Review
dc.relation.translationLanguagespa
dc.relation.translationRecordPolítica monetaria y cambiaria asimétrica en países latinoamericanos que usan metas de inflación
dc.relation.translationUrihttps://hdl.handle.net/11362/43990
dc.rights.coarDisponible
dc.subject.unbisEngMONETARY POLICY
dc.subject.unbisEngFOREIGN EXCHANGE RATES
dc.subject.unbisEngINFLATION
dc.subject.unbisEngECONOMETRIC MODELS
dc.subject.unbisEngCASE STUDIES
dc.subject.unbisSpaPOLITICA MONETARIA
dc.subject.unbisSpaTIPOS DE CAMBIO
dc.subject.unbisSpaINFLACION
dc.subject.unbisSpaMODELOS ECONOMETRICOS
dc.subject.unbisSpaESTUDIOS DE CASOS
dc.titleAsymmetric monetary and exchange-rate policies in Latin American countries that use inflation targeting
dc.type.coarartículo
dspace.entity.typePublication
relation.isAuthorOfPublication20d8ea82-b0f1-4c5b-a3f8-d42dc0a90589
relation.isAuthorOfPublication.latestForDiscovery20d8ea82-b0f1-4c5b-a3f8-d42dc0a90589
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