Why did the inflation targeting regime with a floating exchange rate (IT) announced in september 2016 by Argentina’s Central Bank (BCRA) fail to definitively stabilize prices?

Fil: Scokin, Joaquín. Universidad de San Andrés. Departamento de Economía; Argentina.

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Autor principal: Scokin, Joaquín
Otros Autores: Barraza, Santiago
Formato: Tesis Tesis de grado updatedVersion
Lenguaje:Inglés
Publicado: Universidad de San Andrés. Departamento de Economía 7/25
Acceso en línea:http://hdl.handle.net/10908/18187
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Repositorio Digital - Universidad de San Andrés (UdeSa) de Universidad de San Andrés
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spelling I37-R143-10908-181872025-01-29T16:35:43Z Why did the inflation targeting regime with a floating exchange rate (IT) announced in september 2016 by Argentina’s Central Bank (BCRA) fail to definitively stabilize prices? Scokin, Joaquín Barraza, Santiago Fil: Scokin, Joaquín. Universidad de San Andrés. Departamento de Economía; Argentina. This paper assesses the underpinning causes behind the fall of Argentina’s recent IT regime. A literature review of inflation targets along with analyses of market data delineate that weak monetary institutions, aggressive relative price adjustments and fiscal dominance played a substantial role in undermining the BCRA’s pursuit of price stability. In the monetary domain, a high initial inflationary context coupled with the lack of a de jure strengthening of central bank independence compromised the program. Likewise, aggressive corrections of regulated prices and the adjustments of an overly appreciated domestic currency reverberated in Argentina’s inflation. Finally, the Treasury’s procrastination in closing the budget deficit resulted in a high sterilization cost for the BCRA as well as in the modification of preestablished targets, weakening the regime’s credibility. 7/25/2021 22:31Z 7/25/2021 22:31Z 2020-02 Tesis info:eu-repo/semantics/bachelorThesis info:ar-repo/semantics/tesis de grado info:eu-repo/semantics/updatedVersion Scokin, J. (2020). Why did the inflation targeting regime with a floating exchange rate (IT) announced in september 2016 by Argentina’s Central Bank (BCRA) fail to definitively stabilize prices?. [Tesis de grado, Universidad de San Andrés. Departamento de Economía]. Repositorio Digital San Andrés. http://hdl.handle.net/10908/18187 http://hdl.handle.net/10908/18187 eng info:eu-repo/semantics/openAccess https://creativecommons.org/licenses/by-nc-nd/4.0/ application/pdf application/pdf Universidad de San Andrés. Departamento de Economía
institution Universidad de San Andrés
institution_str I-37
repository_str R-143
collection Repositorio Digital - Universidad de San Andrés (UdeSa)
language Inglés
description Fil: Scokin, Joaquín. Universidad de San Andrés. Departamento de Economía; Argentina.
author2 Barraza, Santiago
author_facet Barraza, Santiago
Scokin, Joaquín
format Tesis
Tesis de grado
Tesis de grado
updatedVersion
author Scokin, Joaquín
spellingShingle Scokin, Joaquín
Why did the inflation targeting regime with a floating exchange rate (IT) announced in september 2016 by Argentina’s Central Bank (BCRA) fail to definitively stabilize prices?
author_sort Scokin, Joaquín
title Why did the inflation targeting regime with a floating exchange rate (IT) announced in september 2016 by Argentina’s Central Bank (BCRA) fail to definitively stabilize prices?
title_short Why did the inflation targeting regime with a floating exchange rate (IT) announced in september 2016 by Argentina’s Central Bank (BCRA) fail to definitively stabilize prices?
title_full Why did the inflation targeting regime with a floating exchange rate (IT) announced in september 2016 by Argentina’s Central Bank (BCRA) fail to definitively stabilize prices?
title_fullStr Why did the inflation targeting regime with a floating exchange rate (IT) announced in september 2016 by Argentina’s Central Bank (BCRA) fail to definitively stabilize prices?
title_full_unstemmed Why did the inflation targeting regime with a floating exchange rate (IT) announced in september 2016 by Argentina’s Central Bank (BCRA) fail to definitively stabilize prices?
title_sort why did the inflation targeting regime with a floating exchange rate (it) announced in september 2016 by argentina’s central bank (bcra) fail to definitively stabilize prices?
publisher Universidad de San Andrés. Departamento de Economía
publishDate 7/25
url http://hdl.handle.net/10908/18187
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