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...

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...

This paper contributes to the debate regarding national government debt. It asks if government should excise public debt through inflation or pay it as it was stipulated, and argues that, from an economic and social point of view, what is desirable is the just fulfillment of State obligations....

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...

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...

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...

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...

This article analyses the development of the Colombian monetary and banking system between 1850 and 1880. The political debate and the power struggle at the national level determined the economic model of this period. Beyond its technical feasibility, the economic decisions were influenced by...

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