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Reglas de política monetaria para Chile y Perú: Evidencia de inestabilidad en los parámetros

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  • Leyva, Gustavo

Abstract

Este documento estudia la estabilidad de reglas monetarias básicas para Chile y Perú a través de la estimación de los parámetros vía el Filtro de Kalman, en el contexto del aporte de Clarida et al. (2000), para el periodo de enero de 1996 a agosto de 2006. Se encuentra que la respuesta de ambos bancos centrales al objetivo inflacionario es similar. La tendencia decreciente que se observa en el parámetro es interpretada como el resultado de la ganancia en credibilidad proveniente del relativo éxito en el cumplimiento de las metas de inflación que han logrado las respectivas autoridades monetarias. Clasificación JEL: E52, E58

Suggested Citation

  • Leyva, Gustavo, 2008. "Reglas de política monetaria para Chile y Perú: Evidencia de inestabilidad en los parámetros," Revista Estudios Económicos, Banco Central de Reserva del Perú, issue 15, pages 21-42.
    • Handle: RePEc:rbp:esteco:ree-15-02
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    File URL: https://www.bcrp.gob.pe/docs/Publicaciones/Revista-Estudios-Economicos/15/Estudios-Economicos-15-2.pdf
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    Citations

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    Cited by:

    1. Adolfo Barajas & Roberto Steiner & Leonardo Villar & Cesar Pabon, 2014. "Inflation Targeting in Latin America," Research Department Publications IDB-WP-473, Inter-American Development Bank, Research Department.
    2. Roberto Steiner & Adolfo Barajas & César Pabón & Leonardo Villar, 2014. "Singular Focus or Multiple Objectives? What the Data Tell Us about Inflation Targeting in Latin America," Economía Journal, The Latin American and Caribbean Economic Association - LACEA, vol. 0(Fall 2014), pages 177-213, June.

    More about this item

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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