Exchange-rate variations and the rate of inflation in emerging economies

This paper develops a structural general equilibrium model to analyse the reactions of the nominal exchange rate and the domestic price level to three types of external shock in emerging economies that have limited access to world capital markets. Although the results depend crucially on the type of...

Descripción completa

Guardado en:

Detalles Bibliográficos
Autores principales:	García-Solanes, José, Torrejón-Flores, Fernando
Formato:	Texto
Lenguaje:	English
Publicado:	2015
Materias:	TIPOS DE CAMBIO PRECIOS MERCADOS DE CAPITAL MODELOS ECONOMETRICOS MACROECONOMIA MERCADOS EMERGENTES FOREIGN EXCHANGE RATES PRICES CAPITAL MARKETS ECONOMETRIC MODELS MACROECONOMICS EMERGING MARKETS
Acceso en línea:	http://hdl.handle.net/11362/39604
Etiquetas:	Agregar Etiqueta Sin Etiquetas, Sea el primero en etiquetar este registro!

id	oai-11362-39604
record_format	dspace
spelling	oai-11362-396042020-03-06T16:50:27Z Exchange-rate variations and the rate of inflation in emerging economies García-Solanes, José Torrejón-Flores, Fernando TIPOS DE CAMBIO PRECIOS MERCADOS DE CAPITAL MODELOS ECONOMETRICOS MACROECONOMIA MERCADOS EMERGENTES FOREIGN EXCHANGE RATES PRICES CAPITAL MARKETS ECONOMETRIC MODELS MACROECONOMICS EMERGING MARKETS This paper develops a structural general equilibrium model to analyse the reactions of the nominal exchange rate and the domestic price level to three types of external shock in emerging economies that have limited access to world capital markets. Although the results depend crucially on the type of external shock, each of the two national balance-sheet parameters considered here —the risk premium and the ratio of external indebtedness— exacerbates the reactions of the two endogenous variables without altering the degree of exchange-rate pass-through (erpt). Moreover, flatter Phillips curves, as observed today in many economies, tend to increase erpt. On the basis of these results, the authorities of emerging economies seeking to stabilize markets and limit erpt are advised to minimize the two risk parameters by applying a flexible inflation-targeting regime. 2015-12-21T18:57:40Z 2015-12-21T18:57:40Z 2015-08 Texto Sección o Parte de un Documento http://hdl.handle.net/11362/39604 LC/G.2643-P 2 en CEPAL Review CEPAL Review 116 .pdf application/pdf AMERICA LATINA Y EL CARIBE LATIN AMERICA AND THE CARIBBEAN
institution	Cepal
collection	Cepal
language	English
topic	TIPOS DE CAMBIO PRECIOS MERCADOS DE CAPITAL MODELOS ECONOMETRICOS MACROECONOMIA MERCADOS EMERGENTES FOREIGN EXCHANGE RATES PRICES CAPITAL MARKETS ECONOMETRIC MODELS MACROECONOMICS EMERGING MARKETS
spellingShingle	TIPOS DE CAMBIO PRECIOS MERCADOS DE CAPITAL MODELOS ECONOMETRICOS MACROECONOMIA MERCADOS EMERGENTES FOREIGN EXCHANGE RATES PRICES CAPITAL MARKETS ECONOMETRIC MODELS MACROECONOMICS EMERGING MARKETS García-Solanes, José Torrejón-Flores, Fernando Exchange-rate variations and the rate of inflation in emerging economies
description	This paper develops a structural general equilibrium model to analyse the reactions of the nominal exchange rate and the domestic price level to three types of external shock in emerging economies that have limited access to world capital markets. Although the results depend crucially on the type of external shock, each of the two national balance-sheet parameters considered here —the risk premium and the ratio of external indebtedness— exacerbates the reactions of the two endogenous variables without altering the degree of exchange-rate pass-through (erpt). Moreover, flatter Phillips curves, as observed today in many economies, tend to increase erpt. On the basis of these results, the authorities of emerging economies seeking to stabilize markets and limit erpt are advised to minimize the two risk parameters by applying a flexible inflation-targeting regime.
format	Texto
author	García-Solanes, José Torrejón-Flores, Fernando
author_facet	García-Solanes, José Torrejón-Flores, Fernando
author_sort	García-Solanes, José
title	Exchange-rate variations and the rate of inflation in emerging economies
title_short	Exchange-rate variations and the rate of inflation in emerging economies
title_full	Exchange-rate variations and the rate of inflation in emerging economies
title_fullStr	Exchange-rate variations and the rate of inflation in emerging economies
title_full_unstemmed	Exchange-rate variations and the rate of inflation in emerging economies
title_sort	exchange-rate variations and the rate of inflation in emerging economies
publishDate	2015
url	http://hdl.handle.net/11362/39604
work_keys_str_mv	AT garciasolanesjose exchangeratevariationsandtherateofinflationinemergingeconomies AT torrejonfloresfernando exchangeratevariationsandtherateofinflationinemergingeconomies
_version_	1718434244240343040

Exchange-rate variations and the rate of inflation in emerging economies

Ejemplares similares