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Persistent link: https://www.econbiz.de/10012609558
This paper analyzes the results of some price stabilization programs classified in the literature as Exchange Rate Based Stabilization (ERBS) and Money Based Stabilization (MBS) in connection to their temporary nature for this, a theoretical and analytical framework is developed that allows...
Persistent link: https://www.econbiz.de/10012609595
This paper analyzes the results of some price stabilization programs classified in the literature as Exchange Rate Based Stabilization (ERBS) and Money Based Stabilization (MBS) in connection to their temporary nature for this, a theoretical and analytical framework is developed that allows...
Persistent link: https://www.econbiz.de/10012511014
Spanish Abstract: Este documento ofrece una visión general sobre el significado de una central bank digital currency (CBDC) que pueda servir de base para una discusión ordenada que permita profundizar en los diferentes aspectos relevantes del debate actualmente abierto sobre este activo...
Persistent link: https://www.econbiz.de/10012832287
Spanish Abstract:Durante los meses de marzo y abril de 2020, el Banco Central Europeo (BCE) tomó una serie de medidas de política monetaria destinadas a proporcionar apoyo de liquidez al sistema financiero y facilitar el acceso a la financiación a la economía real para mitigar los efectos...
Persistent link: https://www.econbiz.de/10013321806
Persistent link: https://www.econbiz.de/10012298341
Spanish Abstract: A propósito de la discusión sobre una nueva constitución en Chile, el debate en torno a la autonomía del Banco Central se ha polarizado: unos la consideran fundamental para los equilibrios macroeconómicos y otros la cuestionan como un “enclave autoritario”. ¿La...
Persistent link: https://www.econbiz.de/10013295068
El documento propone un enfoque alternativo de implementación de política monetaria basado en el control de la tasa de interés de corto plazo. Luego de analizar la profundidad del mercado interbancario en MN, evaluar el comportamiento no colusivo del mercado de depósitos y el mecanismo de...
Persistent link: https://www.econbiz.de/10009004179
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 partially dollarized economy such as Peru. For this purpose, we use a Smooth Transition Vector Autoregression methodology and then report impulse-response functions for shocks of...
Persistent link: https://www.econbiz.de/10005209355