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It is well known that a tightening or easing of the United States' monetary policy affects financial markets in emerging economies. This paper argues that uncertainty about future monetary policy is a separate transmission channel. We focus on the taper tantrum episode in 2013, a period with an...
Persistent link: https://www.econbiz.de/10011546623
Persistent link: https://www.econbiz.de/10011475879
In this chapter, we review the monetary and fiscal history of Argentina for the period 1960–2017, a time during which then country suffered several balance of payments crises, three periods of hyperinflation, two defaults on government debt, and three banking crises. All told, between 1969 and...
Persistent link: https://www.econbiz.de/10012891419
After the economic reforms that followed the National Revolution of the 1950s, Bolivia seemed positioned for sustained growth. Indeed, it achieved unprecedented growth from 1960 to 1977. The rapid accumulation of debt due to persistent deficits and a fixed exchange rate policy during the 1970s...
Persistent link: https://www.econbiz.de/10012892582
Brazil has had a long period of high inflation. It peaked around 100 percent per year in 1964, decreased until the … first oil shock (1973), but accelerated again afterward, reaching levels above 100 percent on average between 1980 and 1994 … indexation in accounting for the unique features of inflation dynamics in Brazil.Institutional subscribers to the NBER working …
Persistent link: https://www.econbiz.de/10012895494
After the economic reforms that followed the National Revolution of the 1950s, Bolivia seemed positioned for sustained growth. Indeed, it achieved unprecedented growth during 1960–1977. Mistakes in economic policies, especially the rapid accumulation of debt and a fixed exchange rate policy...
Persistent link: https://www.econbiz.de/10012898376
Brazil had a long period of high inflation. It peaked around 100% per year in 1964, and accelerated again in the 1970s … features of the inflation dynamics in Brazil in comparison to the other Latin American countries …
Persistent link: https://www.econbiz.de/10012898377
economic uncertainty, term premia, inflation expectations, and bond yields in Brazil. We find strong evidence that inflation … premia in Brazil through elevated exchange rate risk …
Persistent link: https://www.econbiz.de/10012860102
Brazil has had a long period of high inflation. It peaked around 100 percent per year in 1964, decreased until the … first oil shock (1973), but accelerated again afterward, reaching levels above 100 percent on average between 1980 and 1994 … indexation in accounting for the unique features of inflation dynamics in Brazil …
Persistent link: https://www.econbiz.de/10012479377
After the economic reforms that followed the National Revolution of the 1950s, Bolivia seemed positioned for sustained growth. Indeed, it achieved unprecedented growth from 1960 to 1977. The rapid accumulation of debt due to persistent deficits and a fixed exchange rate policy during the 1970s...
Persistent link: https://www.econbiz.de/10012479478