El esquema de objetivos de inflaciónEvidencia para América Latina (1999-2015)
- Esther Barros-Campello
- Carlos Pateiro-Rodríguez
- J. Venancio Salcines-Cristal
- Carlos Pateiro-López
ISSN: 0304-2758, 0718-5286
Year of publication: 2017
Volume: 44
Issue: 2
Pages: 223-250
Type: Article
More publications in: Estudios de economía
Abstract
Resumen: En este trabajo, analizamos la gestión de la política monetaria de los bancos centrales (BC) de América Latina que han establecido un esquema pleno de objetivos de inflación. A partir de la estimación de una regla óptima de política monetaria, utilizando el Método Generalizado de los Momentos, constatamos que, en la práctica, además de la estabilidad de precios, estos BC han tenido en cuenta el crecimiento económico, pero no así la evolución del tipo de cambio, salvo Chile. Además, Chile, Brasil y Perú han seguido un comportamiento asimétrico, mientras que Colombia y México han adoptado una regla de política monetaria lineal.
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