Exchange rate interventions and inflation expectations in an inflation targeting Economy
Abstract: We explore the impact of exchange rate interventions on inflation expectations and exchange rates in Chile. We consider two episodes of central bank interventions during the sample period 2007-2012. Our analysis indicate that interventions did have an impact on daily exchange rate returns....
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ILADES. Universidad Alberto Hurtado.
2018
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oai:scielo:S0718-887020180002000432019-01-15Exchange rate interventions and inflation expectations in an inflation targeting EconomyPincheira Brown,Pablo Exchange rates inflation expectations inflation targeting interventions Abstract: We explore the impact of exchange rate interventions on inflation expectations and exchange rates in Chile. We consider two episodes of central bank interventions during the sample period 2007-2012. Our analysis indicate that interventions did have an impact on daily exchange rate returns. In terms of inflation expectations, we find that the intervention program carried out in 2008 had a significant, but relatively short-lived, impact on the distribution of inflation expectations at long horizons. In contrast, the intervention carried out in 2011 shows no relevant impact on the distribution of inflation expectations in Chile.info:eu-repo/semantics/openAccessILADES. Universidad Alberto Hurtado.Revista de análisis económico v.33 n.2 20182018-12-01text/htmlhttp://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-88702018000200043en10.4067/S0718-88702018000200043 |
institution |
Scielo Chile |
collection |
Scielo Chile |
language |
English |
topic |
Exchange rates inflation expectations inflation targeting interventions |
spellingShingle |
Exchange rates inflation expectations inflation targeting interventions Pincheira Brown,Pablo Exchange rate interventions and inflation expectations in an inflation targeting Economy |
description |
Abstract: We explore the impact of exchange rate interventions on inflation expectations and exchange rates in Chile. We consider two episodes of central bank interventions during the sample period 2007-2012. Our analysis indicate that interventions did have an impact on daily exchange rate returns. In terms of inflation expectations, we find that the intervention program carried out in 2008 had a significant, but relatively short-lived, impact on the distribution of inflation expectations at long horizons. In contrast, the intervention carried out in 2011 shows no relevant impact on the distribution of inflation expectations in Chile. |
author |
Pincheira Brown,Pablo |
author_facet |
Pincheira Brown,Pablo |
author_sort |
Pincheira Brown,Pablo |
title |
Exchange rate interventions and inflation expectations in an inflation targeting Economy |
title_short |
Exchange rate interventions and inflation expectations in an inflation targeting Economy |
title_full |
Exchange rate interventions and inflation expectations in an inflation targeting Economy |
title_fullStr |
Exchange rate interventions and inflation expectations in an inflation targeting Economy |
title_full_unstemmed |
Exchange rate interventions and inflation expectations in an inflation targeting Economy |
title_sort |
exchange rate interventions and inflation expectations in an inflation targeting economy |
publisher |
ILADES. Universidad Alberto Hurtado. |
publishDate |
2018 |
url |
http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-88702018000200043 |
work_keys_str_mv |
AT pincheirabrownpablo exchangerateinterventionsandinflationexpectationsinaninflationtargetingeconomy |
_version_ |
1714206217747824640 |