Este artículo analiza la reforma institucional de la política monetaria en la América Latina desde principios del decenio de los noventa. Afirma que el fortalecimiento de la independencia legal de los bancos centrales, junto con las políticas macroeconómicas, ayudó a disminuir la...

The Spanish version of this paper can be found at http://ssrn.com/abstract=1861165Latin America's central banks were strengthened in the 1990s by independence laws, adoption of new policy regimes (foremost inflation targeting), and more transparent policy decisions bound by ex-ante rules and...

Latin America's central banks have made substantial progress towards delivering an environment of price stability that is supportive of sustainable economic growth. We review these achievements, and discuss remaining challenges facing central banking in the region. Where inflation remains high...

Intro -- Contents -- I. INTRODUCTION -- II. TRENDS IN FINANCIAL DOLLARIZATION -- III. FINANCIAL DOLLARIZATION AS A RATIONAL RESPONSE TO INFLATION -- IV. THE ROLE OF CREDIT RISK -- V. CONCLUDING REMARKS -- APPENDIX I -- APPENDIX II -- REFERENCES.

In early 2020, the Bank for International Settlements (BIS) Representative Office for the Americas contacted a group of nine central banks that includes the members of the Consultative Council of the Americas (CCA) except the US Federal Reserve (Argentina, Brazil, Canada, Chile, Colombia,...