External Shocks and Monetary Policy: Does it Pay to Respond to Exchange Rate Deviations?
There is substantial evidence suggesting that central banks in open economies react to exchange rate fluctuations, in addition to expected inflation and output. In some developing countries this reaction is comparatively larger and it is nonlinear. In an estimated structural macromodel for Chile, th...
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| Language: | English |
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ILADES. Universidad Alberto Hurtado.
2009
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| Online Access: | http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-88702009000100004 |
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