Este documento estudia la estabilidad de reglas monetarias básicas para Chile y Perú a través de la estimación de los parámetros vía el Filtro de Kalman, en el contexto del aporte de Clarida et al. (2000), para el periodo de enero de 1996 a agosto de 2006. Se encuentra que la respuesta de...

We assess the role of real and nominal shocks on the real exchange rate (RER) dynamics for a set of small open economies. In doing so, we estimate a SVAR model for five inflation targeting countries: Australia, Canada, Chile, Israel and Norway. In sharp contrast with the existing empirical...

In this paper we compare point and density forecasts generated by estimating AR and VAR models using disaggregated quarterly data of Chilean inflation. We motivate this comparison by our belief that, in the recent high inflation context, the use of the joint dynamics of the price index inflation...