U.S. MONETARY POLICY'S IMPACT ON LATIN AMERICA'S STRUCTURE OF PRODUCTION (1960-2010)

This paper examines the effects of U.S. monetary policy on Latin America's production structure before two economic crises, specifically the effects of monetary policy on the real economy at the industrial level. Changes in the federal funds rate produce uneven effects on output trends across s...

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Autor principal:	Cachanosky,Nicolás
Lenguaje:	English
Publicado:	Pontificia Universidad Católica de Chile. Instituto de Economía. 2015
Materias:	monetary policy Latin America international business cycles structure of production
Acceso en línea:	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0719-04332015000100005
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spelling	oai:scielo:S0719-043320150001000052015-09-22U.S. MONETARY POLICY'S IMPACT ON LATIN AMERICA'S STRUCTURE OF PRODUCTION (1960-2010)Cachanosky,Nicolás monetary policy Latin America international business cycles structure of production This paper examines the effects of U.S. monetary policy on Latin America's production structure before two economic crises, specifically the effects of monetary policy on the real economy at the industrial level. Changes in the federal funds rate produce uneven effects on output trends across sectors and industries that are more capital-intensive and involved in relatively long-term projects are more sensitive to changes in the federal funds rate. Periods of loose monetary policy result in resource misallocation that is costly to correct during a bust if investment is irreversible, with a particular pattern of economic distortion during an unsustainable boom.info:eu-repo/semantics/openAccessPontificia Universidad Católica de Chile. Instituto de Economía.Latin american journal of economics v.52 n.1 20152015-05-01text/htmlhttp://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0719-04332015000100005en10.7764/LAJE.52.1.95
institution	Scielo Chile
collection	Scielo Chile
language	English
topic	monetary policy Latin America international business cycles structure of production
spellingShingle	monetary policy Latin America international business cycles structure of production Cachanosky,Nicolás U.S. MONETARY POLICY'S IMPACT ON LATIN AMERICA'S STRUCTURE OF PRODUCTION (1960-2010)
description	This paper examines the effects of U.S. monetary policy on Latin America's production structure before two economic crises, specifically the effects of monetary policy on the real economy at the industrial level. Changes in the federal funds rate produce uneven effects on output trends across sectors and industries that are more capital-intensive and involved in relatively long-term projects are more sensitive to changes in the federal funds rate. Periods of loose monetary policy result in resource misallocation that is costly to correct during a bust if investment is irreversible, with a particular pattern of economic distortion during an unsustainable boom.
author	Cachanosky,Nicolás
author_facet	Cachanosky,Nicolás
author_sort	Cachanosky,Nicolás
title	U.S. MONETARY POLICY'S IMPACT ON LATIN AMERICA'S STRUCTURE OF PRODUCTION (1960-2010)
title_short	U.S. MONETARY POLICY'S IMPACT ON LATIN AMERICA'S STRUCTURE OF PRODUCTION (1960-2010)
title_full	U.S. MONETARY POLICY'S IMPACT ON LATIN AMERICA'S STRUCTURE OF PRODUCTION (1960-2010)
title_fullStr	U.S. MONETARY POLICY'S IMPACT ON LATIN AMERICA'S STRUCTURE OF PRODUCTION (1960-2010)
title_full_unstemmed	U.S. MONETARY POLICY'S IMPACT ON LATIN AMERICA'S STRUCTURE OF PRODUCTION (1960-2010)
title_sort	u.s. monetary policy's impact on latin america's structure of production (1960-2010)
publisher	Pontificia Universidad Católica de Chile. Instituto de Economía.
publishDate	2015
url	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0719-04332015000100005
work_keys_str_mv	AT cachanoskynicolas usmonetarypolicysimpactonlatinamericasstructureofproduction19602010
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U.S. MONETARY POLICY'S IMPACT ON LATIN AMERICA'S STRUCTURE OF PRODUCTION (1960-2010)

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