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  • 标题:The Implementation of Monetary Policy in an Emerging Economy: The Case of Chile
  • 本地全文:下载
  • 作者:Christian A. Johnson ; Rodrigo Vergara
  • 期刊名称:Revista de Análisis Económico (RAE)
  • 印刷版ISSN:0716-5927
  • 电子版ISSN:0718-8870
  • 出版年度:2010
  • 卷号:20
  • 期号:1
  • 页码:45-62
  • 语种:English
  • 出版社:ILADES & Universidad Alberto Hurtado
  • 摘要:Central bank authorities base implementation of monetary policy on an analysis of multiple variables known as monetary policy indicators. In a small open economy such as Chile, these indicators may include in-flation misalignments, unemployment, GDP growth, money growth, the current account balance, exchange rate volatility and international re-serves. A neural network approach is used to establish the correspond-ing weights considered by the Board of the Central Bank of Chile dur-ing the period 1995-2003. GDP growth and the difference between the actual and the target inflation were found to be among the variables of greatest weight in the monetary policy decision-making process of the Central Bank of Chile during this period.
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