This paper analyzes exchange rate policies in Chile since the 1960s. A brief overview of main policies is presented. Particular attention is paid to the two episodes of fixed-exchange rate as well as the reasons why policy makers may have arrived to those decisions. The paper also examines the...

This paper compares the experience of growth performance and macroeconomic adjustment between East Asia and Latin America from 1970 to 2000.

Macroeconomic and financial instability in an inflation-targeting context poses important challenges to emerging economies. The particular case of capital flows into emerging economies is analyzed here as one cause of said macroeconomic and financial instability. Before the recent global crisis,...

This paper examines the impact of the copper price on macroeconomic performance in Chile. We explore particular features of the Chilean business cycle focusing on economic activity and the real exchange rate. We find that the Chilean economy has become increasingly resilient to copper price...

This article discusses the global adjustment process and the current challenges for policymaking, with a special focus on the asymmetries and their implications for economic policy. It reviews the uneven recovery faced by developed and emerging economies. Emphasis is made on the situation of...