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

2014-08-04

Authors

Villamizar-Villegas, Mauricio

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ISBN

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.

The opinions contained in this document are the sole responsibility of the author and do not commit Banco de la República or its Board of Directors.

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

Description

JEL Codes

F31 - Foreign Exchange
E58 - Central Banks and Their Policies
E52 - Monetary Policy
E43 - Interest Rates: Determination, Term Structure, and Effects
E31 - Price Level; Inflation; Deflation

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Keywords

Keywords

Central bank intervention , Simultaneous policies , Monetary shocks , Price puzzle , Monetary policy trilemma , Foreign exchange intervention

Citation

URI

https://repositorio.banrep.gov.co/handle/20.500.12134/6122
 https://hdl.handle.net/20.500.12134/6122
 https://ideas.repec.org/p/bdr/borrec/835.html
 https://doi.org/10.32468/be.835

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Borradores de Economía

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Esta obra está bajo licencia internacional Creative Commons Reconocimiento-NoComercial 4.0.

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