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-integration analysis to estimate simultaneously a monetary reaction function and the determinants of expected inflation for Brazil, Chile …, Colombia and Mexico in the post-1999 period. It also tests for the presence of volatility spillovers between the monetary … examination, and ii) greater volatility in the monetary stance leads to higher volatility in expected inflation in Brazil …
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four Latin American economies: Brazil, Chile, Colombia and Mexico, during the period 1980-2010. Wages are highly pro …-cyclical in all countries up to the mid-1990s except in Chile. Wage cyclicality declines thereafter, especially in Brazil and …
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