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A Toolkit for Analyzing Alternative Policies in The Chilean Economy Author info | Abstract | Publisher info | Download info | Related research | Statistics Rómulo Chumacero
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This paper presents a general equilibrium model for a small open economy that can be used to assess the effects of alternative policies. The model is estimated in order to replicate key characteristics of the Chilean economy by using the gradients of an Identified VAR model as matching conditions for the theoretical model. The theoretical model is sufficiently general so that it can be used to analyze issues such as alternative exchange rate regimes, controls to capital inflows, inflation targeting, and other policies used by the monetary authority. A distinguishing feature of this model is that it explicitly models the attitudes of foreign investors.
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Paper provided by Central Bank of Chile in its series Working Papers Central Bank of Chile with number
241.
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Date of creation: Dec 2003Date of revision:
Handle: RePEc:chb:bcchwp:241Contact details of provider: Postal: Casilla No967, Santiago Phone: (562) 670 2000 Fax: (562) 698 4847 Web page: http://www.bcentral.cl/ More information through EDIRC
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References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.: Jurgen A Doornik & Henrik Hansen, .
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"What do the VARs mean? Measuring the output effects of monetary policy ,"
Journal of Monetary Economics ,
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Other versions: repec:cup:etheor:v:12:y:1996:i:4:p:657-81 is not listed on IDEAS
Tauchen, George E. & Gallant, A. Ronald, 1995.
"Which Moments to Match ,"
Working Papers
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"Inference in Linear Time Series Models with Some Unit Roots ,"
Econometrica ,
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Rómulo Chumacero, 2001.
"Estimating ARMA Models Efficiently ,"
Working Papers Central Bank of Chile
92, Central Bank of Chile.
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Other versions: Calvo, Guillermo A. & Mendoza, Enrique, 1998.
"Empirical Puzzles of Chilean Stabilization Policy ,"
Working Papers
98-02, Duke University, Department of Economics.
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"What Does Monetary Policy Do? ,"
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Pesaran, H. Hashem & Shin, Yongcheol, 1998.
"Generalized impulse response analysis in linear multivariate models ,"
Economics Letters ,
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"Business cycle analysis without much theory A look at structural VARs ,"
Journal of Econometrics ,
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references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Rómulo A. Chumacero & Klaus Schmidt-Hebbel, 2004.
"General Equilibrium Models: An Overview ,"
Working Papers Central Bank of Chile
307, Central Bank of Chile.
[Downloadable!]
Pablo Pincheira B & Álvaro García M, 2007.
"Oil Shocks and Inflation The Case Of Chile and a Sample of Industrial Countries ,"
Journal Economía Chilena (The Chilean Economy) ,
Central Bank of Chile, vol. 10(1), pages 5-36, April.
[Downloadable!]
Other versions: González, Manuel, 2004.
"La Curva de Retorno y el Modelo C-CAPM: Evidencia para Chile ,"
MPRA Paper
309, University Library of Munich, Germany.
[Downloadable!]
Eric Parrado, 2001.
"Effects of Foreign and Domestic Monetary Policy in a Small Open Economy: the Case of Chile ,"
Working Papers Central Bank of Chile
108, Central Bank of Chile.
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Calani, Mauricio, 2007.
"Testing Globalization-Disinflation Hypothesis ,"
MPRA Paper
4787, University Library of Munich, Germany, revised 10 Sep 2007.
[Downloadable!]
Jorge Hermann & Rómulo Chumacero, 2005.
"No Estaba Muerta, ...: La Teoría Cuantitativa y la Relación entre Dinero e Inflación ,"
Working Papers Central Bank of Chile
324, Central Bank of Chile.
[Downloadable!]
Marco del Negro & Frank Schorfheide, 2008.
"Inflation Dynamics in a Small Open Economy Model Under Inflation Targeting: Some Evidence From Chile ,"
Working Papers Central Bank of Chile
486, Central Bank of Chile.
[Downloadable!]
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