Comfort in floating: taking stock of twenty years of freely floating exchange rate in Chile

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dc.contributor.authorAlbagli, Elías
dc.contributor.authorCalani Cadena, Miguel Mauricio
dc.contributor.authorHadzi-Vaskov, Metodij
dc.contributor.authorMarcel Cullel, Mario
dc.contributor.authorRicci, Luca Antonio
dc.date.accessioned2021-10-19T14:25:36Z
dc.date.available2021-10-19T14:25:36Z
dc.date.issued2021-10
dc.descriptionChile offers an example of a country that has overcome the fear of floating by reducing balance-sheet mismatches; enhancing financial-market development; and improving monetary, fiscal, and political institutions; while strengthening policy credibility. Under the floating regime, Chile’s economic adjustment to external shocks appears significantly improved, and its exchange-rate passthrough has substantially declined. Our results reinforce the case that moving to a clear and credible floating regime can be associated with a reduction in the fear of floating via economic transformation (like smaller balancesheet mismatches, a larger hedging market, and a lower exchange-rate passthrough).es
dc.description.abstractChile offers an example of a country that has overcome the fear of floating by reducing balance-sheet mismatches; enhancing financial-market development; and improving monetary, fiscal, and political institutions; while strengthening policy credibility. Under the floating regime, Chile’s economic adjustment to external shocks appears significantly improved, and its exchange-rate passthrough has substantially declined. Our results reinforce the case that moving to a clear and credible floating regime can be associated with a reduction in the fear of floating via economic transformation (like smaller balancesheet mismatches, a larger hedging market, and a lower exchange-rate passthrough).es
dc.format.pdf
dc.format.extentSección o Parte de un Documento
dc.format.mediump. 413-470
dc.identifier.issn0717-6686
dc.identifier.issn978-956-7421-69-5
dc.identifier.issn978-956-7421-70-1 (pdf)
dc.identifier.urihttps://hdl.handle.net/20.500.12580/6134
dc.language.isoenes
dc.publisherBanco Central de Chilees
dc.relation.ispartofseriesSeries on Central Banking Analysis and Economic Policies; no. 28
dc.relation.ispartofseriesSerie Banca Central, análisis y políticas económicas; no. 28
dc.rightsAttribution-NonCommercial-NoDerivs 3.0 Chile*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/cl/*
dc.subjectTIPO DE CAMBIOes
dc.subjectMERCADO FINANCIEROes
dc.subjectINFLACIÓNes
dc.titleComfort in floating: taking stock of twenty years of freely floating exchange rate in Chilees
dc.type.docArtículo

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