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During the last decade, a new consensus has emerged among economists with respect to the way in which monetary policy should be conducted. According to this view, monetary policy should be focused in order to achieve a given inflation target. However, the
Persistent link: https://www.econbiz.de/10005812106
Spanish Abstract: El documento propone el New Deal Monetario Argentino 2020. Sus objetivos principales son: A- Introducir transitoriamente flujos monetarios para reactivar la economía en el corto plazo (forma V) en lugar de que se prolongue en el largo plazo (forma L). B- Fomentar inversiones...
Persistent link: https://www.econbiz.de/10012829584
Existen numerosos consensos entre los economistas de Chicago y Viena en lo que concierne a la comprensión del funcionamiento de los mercados y las políticas públicas, y en el rechazo al intervencionismo, el socialismo y el totalitarismo. Sin embargo, en lo referente a temas macroeconómicos,...
Persistent link: https://www.econbiz.de/10008483910
Today that Banco de México has adopted an inflation targeting scheme, it has become more relevant to know the effect that moderate inflation has on economic growth in order to design monetary policy. The purpose of this paper is to estimate that effect following a non-lineal approach similar to...
Persistent link: https://www.econbiz.de/10005738259
methodology is implemented through a VAR model with ARCH disturbances.The evidence obtained shows that the analysed countries … econométrica se implementa mediante un modelo VAR con perturbaciones ARCH.Los resultados obtenidos muestran que los países …
Persistent link: https://www.econbiz.de/10005731104
This paper focuses on the implementation of the BCRA's monetary policy from the end of the convertibility regime to the present. The issuance of interest-bearing liabilities was a central element that gave the BCRA operational autonomy to implement its monetary policy within diverse...
Persistent link: https://www.econbiz.de/10014546021
We study whether monetary policy and real exchange rate shocks have non-linear effects on output and inflation in a … then report impulse-response functions for shocks of different sign and size, and conditional to the initial position in … inflation. Regarding real exchange rate shocks, we show that depreciations have greater negative effects during economic …
Persistent link: https://www.econbiz.de/10005209355
between these alternatives, we estimate a Vector Autoregressive (VAR) model for each of these economies. This allows us to … analyze the response of monetary policy to different shocks and the transmission mechanisms to key macroeconomic variables, as …
Persistent link: https://www.econbiz.de/10014433825
This paper focuses on the implementation of the BCRA's monetary policy from the end of the convertibility regime to the present. The issuance of interest-bearing liabilities was a central element that gave the BCRA operational autonomy to implement its monetary policy within diverse...
Persistent link: https://www.econbiz.de/10014226909
This work examines the difficulties and formidable challenges faced by monetary authorities to control the behavior of monetary aggregates in an open economy dependent of an exportable natural resource such as Venezuela. The work not only introduces analytical arguments but also provides some...
Persistent link: https://www.econbiz.de/10004965221