The Behavior of Interest Rate Differentials under Shifting Exchange Rate Regimes: The Experience of Chile, Colombia and Israel
This paper studies the dynamics of the interest rate differential across band and floating exchange rate regimes in Chile, Colombia and Israel, and in a benchmark group composed of Italy, Portugal and Spain. Significant differences in the interest rate-exchange rate link are found between the two gr...
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| Lenguaje: | English |
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Instituto de Economía, Pontificia Universidad Católica de Chile
2005
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| Acceso en línea: | http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0717-68212005012500005 |
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oai:scielo:S0717-682120050125000052005-06-15The Behavior of Interest Rate Differentials under Shifting Exchange Rate Regimes: The Experience of Chile, Colombia and IsraelIbarra,Carlos A. Interest Rate Differentials Exchange Rate Regimes This paper studies the dynamics of the interest rate differential across band and floating exchange rate regimes in Chile, Colombia and Israel, and in a benchmark group composed of Italy, Portugal and Spain. Significant differences in the interest rate-exchange rate link are found between the two groups, irrespective of regime. However, in all countries, except Italy, the interest differential ceased to behave anti-cyclically against output after the adoption of floating, possibly because of a perceived need to gain credibility for the new system in the context of an ongoing disinflation processinfo:eu-repo/semantics/openAccessInstituto de Economía, Pontificia Universidad Católica de ChileCuadernos de economía v.42 n.125 20052005-05-01text/htmlhttp://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0717-68212005012500005en10.4067/S0717-68212005012500005 |
| institution |
Scielo Chile |
| collection |
Scielo Chile |
| language |
English |
| topic |
Interest Rate Differentials Exchange Rate Regimes |
| spellingShingle |
Interest Rate Differentials Exchange Rate Regimes Ibarra,Carlos A. The Behavior of Interest Rate Differentials under Shifting Exchange Rate Regimes: The Experience of Chile, Colombia and Israel |
| description |
This paper studies the dynamics of the interest rate differential across band and floating exchange rate regimes in Chile, Colombia and Israel, and in a benchmark group composed of Italy, Portugal and Spain. Significant differences in the interest rate-exchange rate link are found between the two groups, irrespective of regime. However, in all countries, except Italy, the interest differential ceased to behave anti-cyclically against output after the adoption of floating, possibly because of a perceived need to gain credibility for the new system in the context of an ongoing disinflation process |
| author |
Ibarra,Carlos A. |
| author_facet |
Ibarra,Carlos A. |
| author_sort |
Ibarra,Carlos A. |
| title |
The Behavior of Interest Rate Differentials under Shifting Exchange Rate Regimes: The Experience of Chile, Colombia and Israel |
| title_short |
The Behavior of Interest Rate Differentials under Shifting Exchange Rate Regimes: The Experience of Chile, Colombia and Israel |
| title_full |
The Behavior of Interest Rate Differentials under Shifting Exchange Rate Regimes: The Experience of Chile, Colombia and Israel |
| title_fullStr |
The Behavior of Interest Rate Differentials under Shifting Exchange Rate Regimes: The Experience of Chile, Colombia and Israel |
| title_full_unstemmed |
The Behavior of Interest Rate Differentials under Shifting Exchange Rate Regimes: The Experience of Chile, Colombia and Israel |
| title_sort |
behavior of interest rate differentials under shifting exchange rate regimes: the experience of chile, colombia and israel |
| publisher |
Instituto de Economía, Pontificia Universidad Católica de Chile |
| publishDate |
2005 |
| url |
http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0717-68212005012500005 |
| work_keys_str_mv |
AT ibarracarlosa thebehaviorofinterestratedifferentialsundershiftingexchangerateregimestheexperienceofchilecolombiaandisrael AT ibarracarlosa behaviorofinterestratedifferentialsundershiftingexchangerateregimestheexperienceofchilecolombiaandisrael |
| _version_ |
1718442398869094400 |