Identifying the effects of simultaneous monetary policy shocks : fear of floating under inflation targeting

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Borradores de Economía; No. 835
Date published
2014-08-04
Date of last update
2014-08-04
Author
Villamizar-Villegas, Mauricio
Document language
spa
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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
Many central banks, particularly in the developing world, aim for exchange rate stability as a macroeconomic goal. However, most are reluctant to relinquish monetary policy autonomy, so they end up operating through both interest rate and foreign exchange
JEL Codes
F31 - Foreign ExchangeE58 - Central Banks and Their PoliciesE52 - Monetary PolicyE43 - Interest Rates: Determination, Term Structure, and EffectsE31 - Price Level; Inflation; Deflation
Keywords
Central bank intervention ; Simultaneous policies ; Monetary shocks ; Price puzzle ; Monetary policy trilemma ; Foreign exchange intervention ;
URI
https://repositorio.banrep.gov.co/handle/20.500.12134/6122
https://hdl.handle.net/20.500.12134/6122
https://doi.org/10.32468/be.835
https://ideas.repec.org/p/bdr/borrec/835.html
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