El presente trabajo intenta cuestionar la idea, común en la literatura sobre transparencia, de que los anuncios de los bancos centrales son veraces per se. El documento presenta un modelo sencillo que ilustra el por qué el hacedor de política monetaria podría comportarse estratégicamente al...

El presente trabajo intenta cuestionar la idea, común en la literatura sobre transparencia, de que los anuncios de los bancos centrales son veraces per se. El documento presenta un modelo sencillo que ilustra el por qué el hacedor de política monetaria podría comportarse estratégicamente al...

El presente trabajo intenta cuestionar la idea, común en la literatura sobre transparencia, de que los anuncios de los bancos centrales son veraces per se. El documento presenta un modelo sencillo que ilustra el por qué el hacedor de política monetaria podría comportarse estratégicamente al...

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...

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...

In this paper, we discuss the management of monetary policy of the Latin American central banks that have fully established inflation targeting. An optimal monetary rule is estimated for these economies using the Generalized Method of Moments. This analysis allows us to conclude that these...

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...

In order to create an environment of low and stable inflation in Mexico it has been necessary to generate a framework for the conduction of monetary policy focused on price stability along with fiscal discipline. This paper describes some structural achievements to control inflation that have...

We estimate the Non-Accelerating Inflation Rate of Unemployment (NAIRU) for Mexico (2002Q1-2018Q2) with Ball and Mankiw's (2002) methodology using the Generalized Method of Moments. We prove that, with this methodology, the calculation of NAIRU is more efficient than the one calculated with the...