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dc.creatorJunguito-Bonnet, Roberto
dc.creatorVargas-Herrera, Hernando
dc.date.created1996-02-20
dc.date.issued1996-02-20
dc.identifier.urihttps://repositorio.banrep.gov.co/handle/20.500.12134/5060
dc.description.abstractThe purpose of this paper is to analize the links between central bank independence and foreign exchange policies, in the light of the recent experience of the major Latin American countries. To that end, the paper stars with a brief review of the literature on the subject. The second section on the paper deals with the different structures or models of central bank and foreign exchange management adopted in Latin America. The third and central part sets up an analytical model which describes the objective function of the authority and derives the expected inflation path for each type of Latin- American central bank model. The paper ends with a section of monetary games illustrating the conflicts that arise between the Government and an independent central bank, when the monetary and foreign exchange policies are not controlled by the same authority.
dc.format.mimetypePDF
dc.language.isospa
dc.publisherBanco de la República
dc.relation.ispartofDocumentos de Trabajo
dc.relation.ispartofseriesBorradores de Economía
dc.relation.isversionofBorradores de Economía; No. 46
dc.rights.accessRightsOpen Access
dc.rights.urihttps://creativecommons.org/licenses/by-nc-sa/4.0/
dc.subjectBanco Central
dc.subjectIndependencia Políticas
dc.subjectAmerica latina
dc.titleCentral Bank independence and foreign exchange policies in Latin America
dc.typeWorking Paper
dc.subject.jelE58 - Central Banks and Their Policies
dc.subject.keywordCentral bank
dc.subject.keywordIndependence
dc.subject.keywordPolicies
dc.subject.keywordLatin America
dc.subject.lembBancos centrales -- América Latina
dc.subject.lembCambio exterior -- América Latina
dc.subject.lembPolítica cambiaria -- América Latina
dc.type.spaDocumentos de trabajo
dc.rights.spaAcceso abierto
dc.rights.ccAtribucion-NoComercial-CompartirIgual CC BY-NC-SA 4.0
dc.subject.jelspaE58 - Bancos centrales y sus políticas
dc.type.hasversionPublished Version
dc.coverage.sucursalBogotá
dc.relation.doihttps://doi.org/10.32468/be.46
dc.rights.disclaimerLas opiniones contenidas en el presente documento son responsabilidad exclusiva de los autores y no comprometen al Banco de la República ni a su Junta Directiva.
dc.relation.repechttps://ideas.repec.org/p/bdr/borrec/046.html
dc.relation.dotechttps://ideas.repec.org/p/col/000094/002110.html
dc.identifier.handlehttps://hdl.handle.net/20.500.12134/5060
dc.source.handleRepecRePEc:col:000094:002110
dc.source.handleRepecRePEc:bdr:borrec:046


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This work is licensed under a Creative Commons Reconocimiento-NoComercial 4.0.This document has been deposited by the author (s) under the following certificate of deposit