Inflación y régimen cambiario
Author | : M. Ignacio Purroy |
Publisher | : |
Total Pages | : 300 |
Release | : 1998 |
Genre | : Business & Economics |
ISBN | : |
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Author | : M. Ignacio Purroy |
Publisher | : |
Total Pages | : 300 |
Release | : 1998 |
Genre | : Business & Economics |
ISBN | : |
Author | : Miguel Ignacio Purroy |
Publisher | : |
Total Pages | : 316 |
Release | : 2006 |
Genre | : |
ISBN | : |
Author | : Sebastian Edwards |
Publisher | : |
Total Pages | : 316 |
Release | : 1997 |
Genre | : Business & Economics |
ISBN | : |
Author | : |
Publisher | : |
Total Pages | : |
Release | : 2004 |
Genre | : |
ISBN | : |
(Cont.) Sobre ésta hipótesis se concluye que mientras más rápido se espera que se reviertan los choques en el tipo de cambio menor será el traslado al nivel de precios, y bajo distintos regímenes cambiarios, las expectativas sobre la reversión del choque del tipo de cambio de los agentes económicos serán de distinta duración. En este estudio se incluyeron únicamente tres regímenes cambiarios, el régimen de bandas es el que tiene las expectativas de reversión de menor duración, seguido del régimen de tipo de cambio flexible y por último el predeterminado. La segunda hipótesis dice que el nivel de inflación es un determinante importante en el nivel del traslado, el cual muestra una mayor impacto sobre los precios cuando el nivel inflacionario es elevado. Sobre esta hipótesis se concluye que efectivamente mientras mayor es el nivel inflacionario mayor será el traslado. Palabras Clave: Traslado, Pass Through, Tipo de Cambio, Inflación, Régimen Cambiario.
Author | : Mr.Atish R. Ghosh |
Publisher | : International Monetary Fund |
Total Pages | : 12 |
Release | : 2014-11-26 |
Genre | : Business & Economics |
ISBN | : 149832407X |
Los países miembros del Fondo Monetario Internacional colaboran para asegurar que los regímenes cambiarios funcionen ordenadamente y para fomentar la estabilidad del sistema cambiario, reconociendo que el objetivo fundamental del sistema monetario internacional es facilitar el intercambio de bienes, servicios y capital y sostener un crecimiento económico sólido. Este trabajo examina la estabilidad del sistema cambiario en su globalidad mediante el análisis de los resultados macroeconómicos (inflación, crecimiento, crisis) en el marco de distintos regímenes cambiarios, los efectos del régimen cambiario elegido en el resto del sistema (ajuste externo, integración comercial, flujos de capital) y las posibles fuentes de tensión para el sistema monetario internacional.
Author | : Miguel Ignacio Purroy U. |
Publisher | : CreateSpace |
Total Pages | : 254 |
Release | : 2015-02-21 |
Genre | : Business & Economics |
ISBN | : 9781505480221 |
El libro analiza el vínculo entre régimen cambiario e inflación y explora qué tipo de régimen favorece más el control de la inflación. Ésta se asocia muy frecuentemente con el financiamiento monetario del déficit fiscal. Los gobiernos tienen el incentivo racional de estimular monetariamente la actividad económica, pero deben evaluar el balance de costos y beneficios políticos de sus actuaciones inflacionarias sorpresivas, ya que los agentes económicos reaccionan y se protegen. Frente a este juego en el que al final nadie gana, la economía cambiaria se pregunta cómo y por qué un determinado régimen cambiario puede disminuir ese incentivo perverso, por ejemplo, mediante el incremento de la credibilidad de las autoridades. La receta, sin embargo, no es simple ni lineal: la intensidad y el tipo de perturbaciones del entorno también afectarán la elección de régimen. En la realidad, son consideraciones de orden político las que tienen un peso dominante en la decisión.
Author | : Mr.Marcos d Chamon |
Publisher | : International Monetary Fund |
Total Pages | : 320 |
Release | : 2019-03-01 |
Genre | : Business & Economics |
ISBN | : 1484393023 |
Foreign exchange intervention is widely used as a policy tool, particularly in emerging markets, but many facets of this tool remain limited, especially in the context of flexible exchange rate regimes. The Latin American experience can be informative because some of its largest countries adopted floating exchange rate regimes and inflation targeting while continuing to intervene in foreign exchange markets. This edited volume reviews detailed accounts from several Latin American countries’ central banks, and it provides insight into how and with what aim many interventions were decided and implemented. This book documents the effectiveness of intervention and pays special attention to the role of foreign exchange intervention policy within inflation-targeting monetary frameworks. The main lesson from Latin America’s foreign exchange interventions, in the context of inflation targeting, is that the region has had a considerable degree of success. Transparency and a clear communication policy have been key. For economies that are not highly dollarized, rules-based intervention helped contain financial instability and build international reserves while preserving inflation targets. The Latin American experience can help other countries in the design and implementation of their policies.
Author | : Gerald A. Epstein |
Publisher | : Edward Elgar Publishing |
Total Pages | : 333 |
Release | : 2009 |
Genre | : Business & Economics |
ISBN | : 1849801983 |
Inflation targeting (IT) has become the sacred cow of central banking. But its suitability to developing nations remains contested. The contributors to this volume perform the valuable service of sketching out plausible, more development-friendly alternatives. They are to be commended in particular for avoiding a one-size-fits-all approach and paying close attention to the needs of specific countries. Their proposals range from relatively minor tinkering in IT to comprehensive overhaul. A common theme is the central role of the real exchange rate, which the central banks ignore at their economies peril. Dani Rodrik, Harvard University, US As the world economy is devastated by a virulent financial crisis and jobs are lost in scores, central bankers are increasingly questioned as to why they have failed to sustain stability and growth even though they told us all along that conquering inflation would be necessary and sufficient to do so while hoping to get a pat on the back for achieving a degree of price stability unprecedented in recent times. This book provides a lot of food for thought on why. It is a powerful critique of the orthodox obsession with inflation in neglect of the two deepseated problems of the unbridled market economy financial instability and unemployment. It is a must for all policy makers, notably in the developing world, and for the mainstream. Yilmaz Akyuz, formerly of the United Nations Conference on Trade and Development, Geneva, Switzerland This collective volume makes a compelling case for balancing the developmental and stabilization functions of central banks. In particular, the authors emphasize that, as practiced in many successful developing countries, competitive real exchange rates can be good for growth and employment generation, and should thus be a specific focus of central bank actions. The book is a must read for those looking for a more balanced framework for central bank policies. José Antonio Ocampo, Columbia University, US and former Under-Secretary-General of the United Nations for Economic and Social Affairs and Finance Minister of Colombia This book, written by an international team of economists, develops concrete, country specific alternatives to inflation targeting, the dominant policy framework of central bank policy that focuses on keeping inflation in the low single digits to the virtual exclusion of other key goals such as employment creation, poverty reduction and sustainable development. The book includes thematic chapters, including analyses of class attitudes toward inflation and unemployment and the gender impacts of restrictive monetary policy. Other chapters propose improved monetary frameworks for Argentina, Brazil, India, Mexico, the Philippines, South Africa, Turkey, and Vietnam. Policy frameworks that are explored include employment targeting, and targeting a stable and competitive real exchange rate. The authors also show that to reach a larger number of targets, including higher employment and stable inflation, central banks must use a larger number of instruments, including capital management techniques. This volume offers concrete, socially valuable alternatives that economists, policy makers, students and interested laypeople should consider before adopting one size fits all, often inadequate, policies that have become a virtual policy making fad.
Author | : José Viñals |
Publisher | : |
Total Pages | : 60 |
Release | : 1998 |
Genre | : Anti-inflationary policies |
ISBN | : |