A toolkit for analyzing alternative policies in the chilean economy

As noted by Leeper (1995) “the business pages of leading newspapers give the impression that the effects of alternative monetary policies on the macroeconomy are well understood and predictable.” They tend “to write with great certainty that when the monetary authority raises interest rates it slows...

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Autor principal:	Chumacero, Rómulo
Formato:	Artículo
Lenguaje:	eng
Publicado:	Banco Central de Chile 2019
Materias:	POLÍTICA MONETARIA MACROECONOMÍA TASAS DE INTERÉS DESARROLLO ECONÓMICO
Acceso en línea:	https://hdl.handle.net/20.500.12580/3699
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spelling	oai-20.500.12580-36992021-04-24T10:30:21Z A toolkit for analyzing alternative policies in the chilean economy Chumacero, Rómulo POLÍTICA MONETARIA MACROECONOMÍA TASAS DE INTERÉS DESARROLLO ECONÓMICO As noted by Leeper (1995) “the business pages of leading newspapers give the impression that the effects of alternative monetary policies on the macroeconomy are well understood and predictable.” They tend “to write with great certainty that when the monetary authority raises interest rates it slows economic growth, and with it inflation, bidding down stocks and bonds. With equal certainty, press accounts report that the monetary policy responds to economic conditions.” Statements like “the recent strength of the economy will prompt the monetary authority to raise interest rates as a preemptive strike against inflation” are not uncommon. With the economy responding to policy and policy responding to the economy, it is hard to tell what causes what. Chile is no exception: similar statements are frequently found in local newspapers. 2019-11-01T00:02:44Z 2019-11-01T00:02:44Z 2005 Artículo 956-7421-21-8 https://hdl.handle.net/20.500.12580/3699 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. 261-302 application/pdf CHILE Banco Central de Chile
institution	Banco Central
collection	Banco Central
language	eng
topic	POLÍTICA MONETARIA MACROECONOMÍA TASAS DE INTERÉS DESARROLLO ECONÓMICO
spellingShingle	POLÍTICA MONETARIA MACROECONOMÍA TASAS DE INTERÉS DESARROLLO ECONÓMICO Chumacero, Rómulo A toolkit for analyzing alternative policies in the chilean economy
description	As noted by Leeper (1995) “the business pages of leading newspapers give the impression that the effects of alternative monetary policies on the macroeconomy are well understood and predictable.” They tend “to write with great certainty that when the monetary authority raises interest rates it slows economic growth, and with it inflation, bidding down stocks and bonds. With equal certainty, press accounts report that the monetary policy responds to economic conditions.” Statements like “the recent strength of the economy will prompt the monetary authority to raise interest rates as a preemptive strike against inflation” are not uncommon. With the economy responding to policy and policy responding to the economy, it is hard to tell what causes what. Chile is no exception: similar statements are frequently found in local newspapers.
format	Artículo
author	Chumacero, Rómulo
author_facet	Chumacero, Rómulo
author_sort	Chumacero, Rómulo
title	A toolkit for analyzing alternative policies in the chilean economy
title_short	A toolkit for analyzing alternative policies in the chilean economy
title_full	A toolkit for analyzing alternative policies in the chilean economy
title_fullStr	A toolkit for analyzing alternative policies in the chilean economy
title_full_unstemmed	A toolkit for analyzing alternative policies in the chilean economy
title_sort	toolkit for analyzing alternative policies in the chilean economy
publisher	Banco Central de Chile
publishDate	2019
url	https://hdl.handle.net/20.500.12580/3699
work_keys_str_mv	AT chumaceroromulo atoolkitforanalyzingalternativepoliciesinthechileaneconomy AT chumaceroromulo toolkitforanalyzingalternativepoliciesinthechileaneconomy
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A toolkit for analyzing alternative policies in the chilean economy

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