Response to external and inflation schocks in a small open economy

Monetary policy design has experienced major changes over the last twenty years. These changes had their origin in changes in macroeconomic theory, a better understanding of the importance of achieving and maintaining low inflation, and the abandonment of fixed pegs in favor of floating exchange rat...

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Autores principales:	Corbo, Vittorio, Tessada Pinto, José Antonio
Formato:	Artículo
Lenguaje:	eng
Publicado:	Banco Central de Chile 2019
Materias:	INFLACIÓN POLÍTICA MONETARIA MACROECONOMÍA TIPO DE CAMBIO
Acceso en línea:	https://hdl.handle.net/20.500.12580/3693
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spelling	oai-20.500.12580-36932021-04-24T10:29:48Z Response to external and inflation schocks in a small open economy Corbo, Vittorio Tessada Pinto, José Antonio INFLACIÓN POLÍTICA MONETARIA MACROECONOMÍA TIPO DE CAMBIO Monetary policy design has experienced major changes over the last twenty years. These changes had their origin in changes in macroeconomic theory, a better understanding of the importance of achieving and maintaining low inflation, and the abandonment of fixed pegs in favor of floating exchange rate regimes. The new macroeconomic models emphasize the role of microeconomic foundations and expectations and highlight the need to develop and strengthen institutions. One of the key consequences of this process is the recognition that stabilization policies cannot achieve permanent gains in output or employment. 2019-11-01T00:02:48Z 2019-11-01T00:02:48Z 2005 Artículo 956-7421-21-8 https://hdl.handle.net/20.500.12580/3693 eng Series on Central Banking, Analysis, and Economic Policies, no. 9 Attribution-NonCommercial-NoDerivs 3.0 Chile http://creativecommons.org/licenses/by-nc-nd/3.0/cl/ .pdf Sección o Parte de un Documento p. 29-56 application/pdf Banco Central de Chile
institution	Banco Central
collection	Banco Central
language	eng
topic	INFLACIÓN POLÍTICA MONETARIA MACROECONOMÍA TIPO DE CAMBIO
spellingShingle	INFLACIÓN POLÍTICA MONETARIA MACROECONOMÍA TIPO DE CAMBIO Corbo, Vittorio Tessada Pinto, José Antonio Response to external and inflation schocks in a small open economy
description	Monetary policy design has experienced major changes over the last twenty years. These changes had their origin in changes in macroeconomic theory, a better understanding of the importance of achieving and maintaining low inflation, and the abandonment of fixed pegs in favor of floating exchange rate regimes. The new macroeconomic models emphasize the role of microeconomic foundations and expectations and highlight the need to develop and strengthen institutions. One of the key consequences of this process is the recognition that stabilization policies cannot achieve permanent gains in output or employment.
format	Artículo
author	Corbo, Vittorio Tessada Pinto, José Antonio
author_facet	Corbo, Vittorio Tessada Pinto, José Antonio
author_sort	Corbo, Vittorio
title	Response to external and inflation schocks in a small open economy
title_short	Response to external and inflation schocks in a small open economy
title_full	Response to external and inflation schocks in a small open economy
title_fullStr	Response to external and inflation schocks in a small open economy
title_full_unstemmed	Response to external and inflation schocks in a small open economy
title_sort	response to external and inflation schocks in a small open economy
publisher	Banco Central de Chile
publishDate	2019
url	https://hdl.handle.net/20.500.12580/3693
work_keys_str_mv	AT corbovittorio responsetoexternalandinflationschocksinasmallopeneconomy AT tessadapintojoseantonio responsetoexternalandinflationschocksinasmallopeneconomy
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Response to external and inflation schocks in a small open economy

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