Artículo
Contractionary depreciations in Latin America during the 2000s
Título:
Depreciações contracionistas na América Latina durante os anos 2000
Fecha de publicación:
05/2022
Editorial:
Universidade de Sao Paulo
Revista:
Brazilian Journal of Political Economy
ISSN:
0101-3157
Idioma:
Inglés
Tipo de recurso:
Artículo publicado
Clasificación temática:
Resumen
This paper explores the effects of currency depreciations on output for the main Latin American countries that have been using Inflation Targeting for almost two decades. We construct VAR models for Brazil, Chile, Colombia, Mexico and Peru for the last two decades and we find that depreciations have short-run contractionary effects in Brazil and Mexico. We illustrate some of the policy implications of that finding by building a simple model, and we show that contractionary effects of depreciations may have destabilizing effects when monetary policy is conducted using a standard Taylor Rule.
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Articulos(SEDE CENTRAL)
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Articulos de SEDE CENTRAL
Citación
Montané, Martín; Libman, Emiliano; Zack, Guido; Contractionary depreciations in Latin America during the 2000s; Universidade de Sao Paulo; Brazilian Journal of Political Economy; 41; 4; 5-2022; 723-744
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