Inflation targeting, sudden stops and the cost of fear of floating
Borradores de Economía; No. 276
Date published
2004-02-16Date of last update
2004-02-16Document language
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Las 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.
Abstract
Sudden stops seem to create the perfect environment for disinflation, especially when central banks defend the exchange rate by increasing interest rates. We propose a variation of the output gap model that incorporates the sudden stop shock. The use of t
JEL Codes
F3 - International FinanceE3 - Prices, Business Fluctuations, and CyclesF41 - Open Economy MacroeconomicsE58 - Central Banks and Their PoliciesF47 - Macroeconomic Aspects of International Trade and Finance: Forecasting and Simulation: Models and ApplicationF42 - International Policy Coordination and Transmission
Keywords
URI
https://repositorio.banrep.gov.co/handle/20.500.12134/5294https://hdl.handle.net/20.500.12134/5294
https://doi.org/10.32468/be.276
https://ideas.repec.org/p/bdr/borrec/276.html
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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
