On the reasons behind fear of floating : pass-through effects vs. contractionary depreciations

Based on a simple open economy framework, this analysis rationalizes the existence of “fear of floating”-type responses and uncovers some important implications about to role of pass-through effects and contractionary depreciations. By examining how the optimal monetary response varies when altering...

Descripción completa

Guardado en:
Detalles Bibliográficos
Autor principal: Castro, Juan Francisco
Formato: Libro
Lenguaje:Inglés
Publicado: 2014
Materias:
Política monetaria
Acceso en línea:http://hdl.handle.net/11354/280
http://biblioteca.clacso.edu.ar/gsdl/cgi-bin/library.cgi?a=d&c=pe/pe-014&d=11354280oai
Aporte de:
Red de Bibliotecas Virtuales de Ciencias Sociales (CLACSO) de Consejo Latinoamericano de Ciencias Sociales
id I16-R122-11354280oai
record_format dspace
institution Consejo Latinoamericano de Ciencias Sociales
institution_str I-16
repository_str R-122
collection Red de Bibliotecas Virtuales de Ciencias Sociales (CLACSO)
language Inglés
topic Política monetaria
spellingShingle Política monetaria
Castro, Juan Francisco
On the reasons behind fear of floating : pass-through effects vs. contractionary depreciations
topic_facet Política monetaria
description Based on a simple open economy framework, this analysis rationalizes the existence of “fear of floating”-type responses and uncovers some important implications about to role of pass-through effects and contractionary depreciations. By examining how the optimal monetary response varies when altering the effects of the real exchange rate on output and inflation, this analysis reveals the existence of nonlinearities when we allow for contractionary depreciations. In particular, an increase in the pass-through coefficient may well imply the need to tighten or relax the monetary stance depending on how contractionary real depreciations are. These findings may help to understand the empirical results where pass-through effects have failed to appear significant when accounting for low exchange rate and high interest rate variability. They also reveal the complications that arise when conducting monetary policy in a partially dollarized economy.
format Libro
Libro
author Castro, Juan Francisco
author_facet Castro, Juan Francisco
author_sort Castro, Juan Francisco
title On the reasons behind fear of floating : pass-through effects vs. contractionary depreciations
title_short On the reasons behind fear of floating : pass-through effects vs. contractionary depreciations
title_full On the reasons behind fear of floating : pass-through effects vs. contractionary depreciations
title_fullStr On the reasons behind fear of floating : pass-through effects vs. contractionary depreciations
title_full_unstemmed On the reasons behind fear of floating : pass-through effects vs. contractionary depreciations
title_sort on the reasons behind fear of floating : pass-through effects vs. contractionary depreciations
publishDate 2014
url http://hdl.handle.net/11354/280
http://biblioteca.clacso.edu.ar/gsdl/cgi-bin/library.cgi?a=d&c=pe/pe-014&d=11354280oai
work_keys_str_mv AT castrojuanfrancisco onthereasonsbehindfearoffloatingpassthrougheffectsvscontractionarydepreciations
bdutipo_str Repositorios
_version_ 1764820417882619905

Ejemplares similares