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Ten years of inflation targeting worldwide provide valuable lessons. Inflation targeters (ITers) have been very successful in meeting their inflation targets (ITs). Industrial output sacrifice during inflation stabilization and industrial output volatility has frequently been lowered after IT...
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This paper draws on estimates of consumption functions for 13 developing countries to analyze the effectiveness of public policy in raising saving. First, it provides evidence from time-series and panel data on how liquidity constraints affect consumption functions. This suggests that a rise in...
Persistent link: https://www.econbiz.de/10004989751
This paper shows how the industrial structure and performance changed after Chile's dramatic trade liberalization. A comparison of the 1967 and 1979 censuses shows little improvement in productivity overall, but these figures don't separate the effects of trade liberalization from the effects of...
Persistent link: https://www.econbiz.de/10004989792
This paper evaluates Chile's stabilization policies since the early 1970s. Four episodes are examined: (a) the high inflation at the beginning of the military regime when inflation was close to 1000 percent per year; (b) the orthodox stabilization program of 1975; (c) the exchange rate-based...
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The purpose of this paper is to comment on the paper by Berg et. al. on exchange rate and monetary regime options for Latin America. The purpose of Berg et. al. paper is to evaluate the relative merits of the two exchange rate regimes to which most Latin American countries are converging today:...
Persistent link: https://www.econbiz.de/10005730242
El objetivo central de este estudio es examinar las implicaciones sobre el empleo de distintas estrategias de comercio exterior vinculadas al sector industrial manufacturero chileno. La estrategia de comercio exterior que se siga, industrialización por sustitución de importaciones (ISI) y/o...
Persistent link: https://www.econbiz.de/10005730646