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Structural Volatility in Chile: A Policy Report

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Author Info
Ricardo J. Caballero

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Abstract

This paper identifies Chile`s economic weaknesses and offers policy recommendations for increasing stability. Current problems include weak international financial links, a Central Bank mandate that is ill-designed to deal with terms of trade shocks, a propensity to waste scarce liquidity in the banking system; and limited development of financial markets. The paper`s policy recommendations include improving external financial links, molding terms of trade contingencies into anti-cyclical policies, Improving liquidity aggregation through and within the banking sector during crises, and improving the liquidity and immediacy of domestic financial instruments.

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Publisher Info
Paper provided by Inter-American Development Bank, Research Department in its series RES Working Papers with number 4211.

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Date of creation: Aug 2000
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Handle: RePEc:idb:wpaper:4211

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Piketty, Thomas & Banerjee, Abhijit & Aghion, Philippe, 1997. "Dualism and macroeconomic volatility," CEPREMAP Working Papers (Couverture Orange) 9720, CEPREMAP.
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  2. Rajan, Raghuram G & Zingales, Luigi, 1998. "Financial Dependence and Growth," American Economic Review, American Economic Association, vol. 88(3), pages 559-86, June. [Downloadable!] (restricted)
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  3. Ricardo Caballero & Arvind Krishnamurthy, 1999. "Emerging Market Crises: An Asset Markets Perspective," Working papers 99-23, Massachusetts Institute of Technology (MIT), Department of Economics.
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  4. Ricardo J. Caballero, 2000. "Structural Volatility in Mexico: A Policy Report," RES Working Papers 4209, Inter-American Development Bank, Research Department. [Downloadable!]
  5. Calvo, Guillermo A. & Mendoza, Enrique, 1998. "Empirical Puzzles of Chilean Stabilization Policy," Working Papers 98-02, Duke University, Department of Economics. [Downloadable!]
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Christian A. Johnson, 2000. "Un Modelo de Intervención Cambiaria," Working Papers Central Bank of Chile 90, Central Bank of Chile. [Downloadable!]
  2. Ricardo J. Caballero, 2000. "Inestabilidad estructural en Argentina: un informe de políticas," RES Working Papers 4214, Inter-American Development Bank, Research Department. [Downloadable!]
  3. Chang-Tai Hsieh & Jonathan A. Parker, 2006. "Taxes and Growth in a Financially Underdeveloped Country: Evidence from the Chilean Investment Boom," NBER Working Papers 12104, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  4. Ricardo Caballero G, 2002. "Coping With Chile’s External Vulnerability: A Financial Problem," Journal Economía Chilena (The Chilean Economy), Central Bank of Chile, vol. 5(1), pages 11-36, April. [Downloadable!]
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  5. Francisco Gallego & Norman Loayza, 2000. "Financial Structure in Chile: Macroeconomic Developments and Microeconomic Effects," Working Papers Central Bank of Chile 75, Central Bank of Chile. [Downloadable!]
    Other versions:
  6. Ricardo J. Caballero, 2000. "Structural Volatility in Argentina: A Policy Report," RES Working Papers 4213, Inter-American Development Bank, Research Department. [Downloadable!]
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This page was last updated on 2009-12-11.

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