Arbeitspapier
Flexible Exchange Rate with Inflation Targeting in Chile: Experience and Issues
The first five years of the flexible exchange rate and inflation targeting regime in Chile have shown positive results. Inflation is under control, the exchange rate has moved with the external conditions, monetary policy has been countercyclical and the cycle has apparently smoothened. Even though exchange rate volatility has increased, as expected with a flexible regime, this has also happened in other countries with similar characteristics. This increased volatility has lower extreme real exchange rate valuations than in the past, as is also seen in other countries with alternative exchange rate regimes. Important progress in derivatives market deepening, as well in a lower pass-through from the exchange rate to inflation, have contributed to increasing the credibility and feasibility of the current policy framework, while minimizing potential costs derived from that framework.
- Language
-
Englisch
- Bibliographic citation
-
Series: Working Paper ; No. 540
- Classification
-
Wirtschaft
- Subject
-
Flexibler Wechselkurs
Volatilität
Inflationssteuerung
Geldpolitik
Chile
- Event
-
Geistige Schöpfung
- (who)
-
Gregorio, José De
Tokman, Andrea
Valdés, Rodrigo
- Event
-
Veröffentlichung
- (who)
-
Inter-American Development Bank, Research Department
- (where)
-
Washington, DC
- (when)
-
2005
- Handle
- Last update
-
10.03.2025, 11:44 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Gregorio, José De
- Tokman, Andrea
- Valdés, Rodrigo
- Inter-American Development Bank, Research Department
Time of origin
- 2005
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