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Monetary Policy and Macroeconomic Stability in Latin America : The Cases of Brazil, Chile, Colombia and Mexico
de Mello, Luiz - 2007
In 1999, new monetary policy regimes were adopted in Brazil, Chile, Colombia and Mexico, combining inflation targeting … responsiveness by the monetary authority to changes in expected inflation in Brazil and Chile, while in Colombia and Mexico monetary … Brazil, Colombia and Mexico, despite higher inflation volatility in Brazil and Colombia. This paper estimates a conventional …
Persistent link: https://www.econbiz.de/10012446870
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Monetary Policy and Inflation Expectations in Latin America : Long-run Effects and Volatility Spillovers
2006
-integration analysis to estimate simultaneously a monetary reaction function and the determinants of expected inflation for Brazil, Chile …, Colombia and Mexico in the post-1999 period. It also tests for the presence of volatility spillovers between the monetary …, Colombia and Mexico, suggesting that interest-rate smoothing contributes to reducing inflation expectations volatility. No …
Persistent link: https://www.econbiz.de/10012446842
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Evaluating Inflation Determinants with a Money Supply Rule in Four Central and Eastern European EU Member States
Mehrotra, Aaron N. - 2009
We evaluate the monetary determinants of inflation in the Czech Republic, Hungary, Poland and Slovakia by using the McCallum rule for money supply. The deviation of actual money growth from the rule is included in the estimation of Phillips curves for the four economies by Bayesian model...
Persistent link: https://www.econbiz.de/10013155386
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Ganando grados de libertad : el manejo de la política monetaria en LATAM-5
Basco, Emiliano; Katz, Sebastián; Libonatti, Luis - 2023 - Esta versión: Noviembre 2023
By examining the reaction functions of the Central Banks of Brazil, Chile, Colombia, Mexico, and Peru (LATAM-5) over …
Persistent link: https://www.econbiz.de/10014433825
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Dynamic Limited Dependent Variable Modeling and US Monetary Policy
Monokroussos, George - 2012
I estimate a forward-looking, dynamic, discrete-choice monetary policy reaction function for the US economy, that accounts for the fact that there are substantial restrictions in the period-to-period changes of the Fed's policy instrument. I find a substantial contrast between the periods before...
Persistent link: https://www.econbiz.de/10013105850
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Macroeconomic Stability and Monetary Policy in Korea : Time-Varying Coefficient VAR Approach
Han, Jong-Suk - 2019
The post-global financial crisis (GFC) macroeconomic dynamics in Korea displays diminished output and inflation variability with a slowdown in real activity, compared to the first decade of the 2000s. This paper investigates these two distinctive macroeconomic features in Korea by estimating a...
Persistent link: https://www.econbiz.de/10012869965
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A note on the volatilities of the interest rate and the exchange rate under different monetary policy instruments : Mexico 1998 - 2008
Benavides, Guillermo; Capistrán Carmona, Carlos - 2009
multiple structural changes, we document that both volatilities decreased around the time Banco de México started the …
Persistent link: https://www.econbiz.de/10003893830
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A Note on the Volatilities of the Interest Rate and the Exchange Rate Under Different Monetary Policy Instruments : Mexico 1998-2008
Benavides, Guillermo - 2010
multiple structural changes, we document that both volatilities decreased around the time Banco de Mexico started the …
Persistent link: https://www.econbiz.de/10013144183
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Monetary Policy Regimes in Brazil
Lima, Elcyon C.R. - 2007
This article estimates the monetary policy rule followed by the Brazilian Central Bank for setting its main policy instrument, the SELIC rate, for the period after the Real Plan. In order to overcome the uncertainty over the dates at which changes in parameters occurred, this paper uses...
Persistent link: https://www.econbiz.de/10012730071
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Monetary policy regimes in Brazil
Lima, Elcyon Caiado Rocha; Maka, Alexis; Mendonça, … - 2015
This article estimates the monetary policy rule followed by the Brazilian Central Bank for setting its main policy instrument, the SELIC rate, for the period after the Real Plan. In order to overcome the uncertainty over the dates at which changes in parameters occurred, this paper uses...
Persistent link: https://www.econbiz.de/10012053320