Allocative issues, either in a static or in a dnamic context, have been traditionally at the center of the analysis of impacts of economics integration. For a change, this article intends to underline the practical importance of the monetary and macroecon

Similar to other emerging countries, during the first half of the 90s the Chilean economy experienced a sharp increase in capital inflows. This situation was troublesome for the Central Bank, who had to choose between monetary targets and exchange rate ta

This paper reviews the recent literature on monetary policy rules. In particular, we discuss the theoretical framework underlying different monetary policy strategies. Currently, many central banks are implementing a scheme of monetary policy where the main instrument and indicator of it, is a...