Monetary policy in Latin America in the 1990s
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Date
2002
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Banco Central de Chile
Abstract
Description
For decades until the early 1990s, Latin America was the region of the world with the highest average level of inflation. High inflation was the cumulative result of a long history of activist economic policies based on a disregard for macroeconomic stability. These policies culminated in large government deficits that ended up being monetized by the central bank, or in balance of payments crises that resulted in sharp adjustments in exchange rates.
Keywords
POLÍTICA MONETARIA, INFLACIÓN, BANCOS CENTRALES, TIPO DE CAMBIO, BALANZA DE PAGOS