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Credibilidad en la política monetaria: Papel de políticas en la estabilidad del Presidente del Banco Central

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  • Miguel Rueda
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    Abstract

    Este documento estudia la relación entre el índice de riesgo de salida de un presidente de banco central y una medida de credibilidad en la política monetaria. El índice de riesgo de salida previsto se considera como una función de variables legales y políticas. La medida de credibilidad es la probabilidad prevista de un principio de deflación cuando la inflación está en aumento. En una muestra de 22 países latinoamericanos y del G7, se encuentra una relación negativa entre el índice de riesgo de salida y la medida de credibilidad. Los resultados demuestran que la independencia legal después de controlar el índice de riesgo de la salida del presidente no está asociada a aumentos de credibilidad.

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    Bibliographic Info

    Paper provided by Inter-American Development Bank, Research Department in its series Research Department Publications with number 4586.

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    Date of creation: Sep 2008
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    Handle: RePEc:idb:wpaper:4586

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