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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...
Persistent link: https://www.econbiz.de/10011985528
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...
Persistent link: https://www.econbiz.de/10011980261
This paper introduces an indicator of consumers' inflation expectations based on data from the National Consumer Confidence Survey of Mexico (ENCO, in Spanish), and tests its predictive power over CPI inflation and other measures of inflation that correspond to smaller baskets of consumer goods,...
Persistent link: https://www.econbiz.de/10010322541
This paper introduces an indicator of consumers' inflation expectations based on data from the National Consumer Confidence Survey of Mexico (ENCO, in Spanish), and tests its predictive power over CPI inflation and other measures of inflation that correspond to smaller baskets of consumer goods,...
Persistent link: https://www.econbiz.de/10009674751
Persistent link: https://www.econbiz.de/10012057264
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...
Persistent link: https://www.econbiz.de/10014545922
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
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...
Persistent link: https://www.econbiz.de/10011445098
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...
Persistent link: https://www.econbiz.de/10012217599
Persistent link: https://www.econbiz.de/10012609558