Revisiting the price puzzle in Chile
Economic theory argues that a contractionary monetary policy has a negative impact on inflation. Despite this, evidence from the empirical literature frequently finds that the estimated impulse-response function of a vector autoregressive (VAR) model implies that inflation increases after an unexpec...
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| Format: | Nota de Investigación |
| Language: | English |
| Published: |
Banco Central de Chile
2020
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| Online Access: | https://hdl.handle.net/20.500.12580/4860 https://ideas.repec.org/a/chb/bcchni/v20y2017i1p072-079.html |
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