By examining the reaction functions of the Central Banks of Brazil, Chile, Colombia, Mexico, and Peru (LATAM-5) over the period 2002-2019, this article explores the degree to which the adoption of inflation targeting regimes allowed these economies to have greater room of manouvre in conducting...

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...

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...

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...

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...

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...

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...

By examining the reaction functions of the Central Banks of Brazil, Chile, Colombia, Mexico, and Peru (LATAM-5) over the period 2002-2019, this article explores the degree to which the adoption of inflation targeting regimes allowed these economies to have greater room of manouvre in conducting...