VAR analysis of monetary policy in the post-convertibility: a non-recursive approach

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In this paper we study the effects of monetary policy in Argentina during post-convertibility using the VAR methodology under a non-recursive scheme, in order to adapt the structural model to the features of small and open economies such as Argentina. The results show that this identification strate...

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Autor principal: Beltrani, Mariano
Formato: Artículo publishedVersion
Lenguaje:Español
Publicado: FACULTAD DE CIENCIAS ECONÓMICAS - UNIVERSIDAD DE BUENOS AIRES 2020
Materias:
monetary policy shocks
exchange rate
structural VAR
emerging economies
shocks de política monetaria
tipo de cambio
VAR estructural
economías emergentes
Acceso en línea:https://ojs.economicas.uba.ar/REPBA/article/view/1721
https://repositoriouba.sisbi.uba.ar/gsdl/cgi-bin/library.cgi?a=d&c=ecopol&d=1721_oai
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Repositorio Digital de la Universidad de Buenos Aires (UBA) de Universidad de Buenos Aires
id I28-R145-1721_oai
record_format dspace
spelling I28-R145-1721_oai2025-02-11 Beltrani, Mariano 2020-06-01 In this paper we study the effects of monetary policy in Argentina during post-convertibility using the VAR methodology under a non-recursive scheme, in order to adapt the structural model to the features of small and open economies such as Argentina. The results show that this identification strategy is effective in eliminating the so-called puzzles of monetary policy. In particular, this approach allows the effects of monetary shocks on the price level and the interest rate to be consistent with economic theory. En el presente trabajo se estudian los efectos de la política monetaria en Argentina durante la post convertibilidad utilizando la metodología VAR bajo un esquema no recursivo, con el objetivo de adecuar el modelo estructural a las características de economías pequeñas y abiertas como la Argentina. Los resultados muestran que esta estrategia de identificación es eficaz para eliminar los denominados puzzles de la política monetaria. En particular, el enfoque utilizado permite que los efectos de los shocks monetarios sobre el nivel de precios y la tasa de interés sean consistentes con lo sugerido por la teoría económica. application/pdf text/html https://ojs.economicas.uba.ar/REPBA/article/view/1721 spa FACULTAD DE CIENCIAS ECONÓMICAS - UNIVERSIDAD DE BUENOS AIRES https://ojs.economicas.uba.ar/REPBA/article/view/1721/2440 https://ojs.economicas.uba.ar/REPBA/article/view/1721/2441 Revista de Economía Política de Buenos Aires; Vol. 14 No. 20 (2020): Revista de Economía Política de Buenos Aires; 9-39 Revista de Economía Política de Buenos Aires; Vol. 14 Núm. 20 (2020): Revista de Economía Política de Buenos Aires; 9-39 1853-1350 1850-6933 urn:issn:1853-1350repba.v0i206 monetary policy shocks exchange rate structural VAR emerging economies shocks de política monetaria tipo de cambio VAR estructural economías emergentes VAR analysis of monetary policy in the post-convertibility: a non-recursive approach Análisis VAR de la política monetaria en la post convertibilidad: un enfoque no recursivo info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion https://repositoriouba.sisbi.uba.ar/gsdl/cgi-bin/library.cgi?a=d&c=ecopol&d=1721_oai
institution Universidad de Buenos Aires
institution_str I-28
repository_str R-145
collection Repositorio Digital de la Universidad de Buenos Aires (UBA)
language Español
orig_language_str_mv spa
topic monetary policy shocks
exchange rate
structural VAR
emerging economies
shocks de política monetaria
tipo de cambio
VAR estructural
economías emergentes
spellingShingle monetary policy shocks
exchange rate
structural VAR
emerging economies
shocks de política monetaria
tipo de cambio
VAR estructural
economías emergentes
Beltrani, Mariano
VAR analysis of monetary policy in the post-convertibility: a non-recursive approach
topic_facet monetary policy shocks
exchange rate
structural VAR
emerging economies
shocks de política monetaria
tipo de cambio
VAR estructural
economías emergentes
description In this paper we study the effects of monetary policy in Argentina during post-convertibility using the VAR methodology under a non-recursive scheme, in order to adapt the structural model to the features of small and open economies such as Argentina. The results show that this identification strategy is effective in eliminating the so-called puzzles of monetary policy. In particular, this approach allows the effects of monetary shocks on the price level and the interest rate to be consistent with economic theory.
format Artículo
publishedVersion
author Beltrani, Mariano
author_facet Beltrani, Mariano
author_sort Beltrani, Mariano
title VAR analysis of monetary policy in the post-convertibility: a non-recursive approach
title_short VAR analysis of monetary policy in the post-convertibility: a non-recursive approach
title_full VAR analysis of monetary policy in the post-convertibility: a non-recursive approach
title_fullStr VAR analysis of monetary policy in the post-convertibility: a non-recursive approach
title_full_unstemmed VAR analysis of monetary policy in the post-convertibility: a non-recursive approach
title_sort var analysis of monetary policy in the post-convertibility: a non-recursive approach
publisher FACULTAD DE CIENCIAS ECONÓMICAS - UNIVERSIDAD DE BUENOS AIRES
publishDate 2020
url https://ojs.economicas.uba.ar/REPBA/article/view/1721
https://repositoriouba.sisbi.uba.ar/gsdl/cgi-bin/library.cgi?a=d&c=ecopol&d=1721_oai
work_keys_str_mv AT beltranimariano varanalysisofmonetarypolicyinthepostconvertibilityanonrecursiveapproach
AT beltranimariano analisisvardelapoliticamonetariaenlapostconvertibilidadunenfoquenorecursivo
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