Céspedes, Luis F.; García-Cicco, Javier; T, Diego Saravia - In: Journal Economía Chilena (The Chilean Economy) 16 (2013) 2, pp. 96-121
In this paper we analyze the effects of the Term Liquidity Program (FLAP) implemented by the Central Bank of Chile in response to the financial crisis of 2008-2009. We find that the announcement related to this policy significantly reduced nominal yields in the policy horizon of two years. These...
