Central Bank independence and foreign exchange policies in Latin America

The purpose of this paper is to analize the links between central bank independence and foreign exchange policies, in the light of the recent experience of the major Latin American countries. To that end, the paper stars with a brief review of the literature on the subject. The second section on the...

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Autores Principales: Junguito-Bonnet, Roberto, Vargas-Herrera, Hernando
Formato: Documento de trabajo (Working Paper)
Lenguaje:Español (Spanish)
Publicado: Banco de la República 1996
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Acceso en línea:http://repositorio.banrep.gov.co/handle/20.500.12134/5060
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spelling oai:RI-BanRep:20.500.12134-50602019-06-26T15:08:43Z Central Bank independence and foreign exchange policies in Latin America Junguito-Bonnet, Roberto Vargas-Herrera, Hernando Banco Central Independencia Políticas America latina E58 - Central Banks and Their Policies Central bank Independence Policies Latin America Bancos centrales -- América Latina Cambio exterior -- América Latina Política cambiaria -- América Latina E58 - Bancos centrales y sus políticas The purpose of this paper is to analize the links between central bank independence and foreign exchange policies, in the light of the recent experience of the major Latin American countries. To that end, the paper stars with a brief review of the literature on the subject. The second section on the paper deals with the different structures or models of central bank and foreign exchange management adopted in Latin America. The third and central part sets up an analytical model which describes the objective function of the authority and derives the expected inflation path for each type of Latin- American central bank model. The paper ends with a section of monetary games illustrating the conflicts that arise between the Government and an independent central bank, when the monetary and foreign exchange policies are not controlled by the same authority. 1996-02-20 1996-02-20 Working Paper Documentos de trabajo Published Version http://repositorio.banrep.gov.co/handle/20.500.12134/5060 http://hdl.handle.net/20.500.12134/5060 spa Documentos de Trabajo Borradores de Economía Borradores de Economía; No. 46 https://ideas.repec.org/p/bdr/borrec/046.html https://ideas.repec.org/p/col/000094/002110.html Open Access https://creativecommons.org/licenses/by-nc-sa/4.0/ Acceso abierto Atribucion-NoComercial-CompartirIgual CC BY-NC-SA 4.0 Las opiniones contenidas en el presente documento son responsabilidad exclusiva de los autores y no comprometen al Banco de la República ni a su Junta Directiva. PDF application/pdf image/jpeg image/jpeg image/jpeg image/jpeg image/jpeg Bogotá Banco de la República
institution Repositorio Institucional del Banco de la República de Colombia
collection DSpace
language Español (Spanish)
topic Banco Central
Independencia Políticas
America latina
E58 - Central Banks and Their Policies
Central bank
Independence
Policies
Latin America
Bancos centrales -- América Latina
Cambio exterior -- América Latina
Política cambiaria -- América Latina
E58 - Bancos centrales y sus políticas
spellingShingle Banco Central
Independencia Políticas
America latina
E58 - Central Banks and Their Policies
Central bank
Independence
Policies
Latin America
Bancos centrales -- América Latina
Cambio exterior -- América Latina
Política cambiaria -- América Latina
E58 - Bancos centrales y sus políticas
Junguito-Bonnet, Roberto
Vargas-Herrera, Hernando
Central Bank independence and foreign exchange policies in Latin America
description The purpose of this paper is to analize the links between central bank independence and foreign exchange policies, in the light of the recent experience of the major Latin American countries. To that end, the paper stars with a brief review of the literature on the subject. The second section on the paper deals with the different structures or models of central bank and foreign exchange management adopted in Latin America. The third and central part sets up an analytical model which describes the objective function of the authority and derives the expected inflation path for each type of Latin- American central bank model. The paper ends with a section of monetary games illustrating the conflicts that arise between the Government and an independent central bank, when the monetary and foreign exchange policies are not controlled by the same authority.
format Documento de trabajo (Working Paper)
author Junguito-Bonnet, Roberto
Vargas-Herrera, Hernando
author_facet Junguito-Bonnet, Roberto
Vargas-Herrera, Hernando
author_sort Junguito-Bonnet, Roberto
title Central Bank independence and foreign exchange policies in Latin America
title_short Central Bank independence and foreign exchange policies in Latin America
title_full Central Bank independence and foreign exchange policies in Latin America
title_fullStr Central Bank independence and foreign exchange policies in Latin America
title_full_unstemmed Central Bank independence and foreign exchange policies in Latin America
title_sort central bank independence and foreign exchange policies in latin america
publisher Banco de la República
publishDate 1996
url http://repositorio.banrep.gov.co/handle/20.500.12134/5060
_version_ 1637932783541157888
score 12,131701