Monetary policy at the zero lower bound : the chilean experience



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Autor:
Céspedes, Luis Felipe
García Cicco, Javier
Saravia, Diego

Título: Monetary policy at the zero lower bound : the chilean experience

Editorial: Banco Central de Chile

Universidad Católica Argentina. Facultad de Ciencias Económicas. Departamento de Investigación "Francisco Valsecchi"

Fecha: 2014

Palabras clave:
POLITICA ECONOMICA
POLITICA MONETARIA
ECONOMIA CHILENA
CHILE

Disponibilidad: Acceso abierto

Cita: Céspedes, L.F., García Cicco, J., Saravia, D. (2014). Monetary policy at the zero lower bound : the chilean experience [en línea]. En Bauducco, S., Christiano, L., Raddatz, C. (eds.). Macroeconomic and financial stability : challenges for monetary policy. Central banking, analysis and economic policies book series ; vol. 19. Santiago : Central Bank of Chile. Disponible en: http://www.bcentral.cl/estudios/banca-central/pdf/v19/Vol19_427_460.pdf Registro disponible en: http://bibliotecadigital.uca.edu.ar/repositorio/libros/monetary-policy-zero-lower.pdf [Fecha de consulta:..]

Descripción: "The global financial crisis that started in 2008 dramatically changed the analysis and implementation of monetary policy worldwide. Central banks were at the center of the stage during that time, implementing both conventional and unconventional policies. Not only were monetary policy rates drastically reduced, but also diverse policy measures were implemented: purchases of a wide range of financial assets, lending to financial institutions, intervening exchange rate markets and paying interest on reserves. Given that these policies challenged the conventional view embedded in the predominant monetary policy model, within which central banks control only a short-term interest rate, it is most important to understand how these policies have worked, and to what extent they were successful..."

Versión impresa: Bauducco, S., Christiano, L., Raddatz, C. (eds.). Macroeconomic and financial stability : challenges for monetary policy. Central banking, analysis and economic policies book series ; vol. 19. Santiago : Central Bank of Chile, 2014

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