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Desalineamientos Monetarios, Desalineamientos Cambiarios e Inflación

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Author Info

  • Rodrigo Cerda

    ()
    (Instituto de Economía. Pontificia Universidad Católica de Chile.)

  • Aldo Lema

Abstract

Este documento se centra en analizar los mecanismos de transmisión de los desalineamientos monetarios y cambiarios sobre la inflación. Su objetivo es contribuir a este debate por medio de analizar los determinantes de corto plazo de la inflación, y a partir de estos, proveer ciertas orientaciones básicas para el manejo inflacionario de largo plazo. Para esto, inicialmente se determinan los equilibrios en estos mercados, y por lo tanto, se estudia la demanda por dinero y la trayectoria de largo plazo del tipo de cambio real. Estos dos temas se utilizan como fundamentos para analizar los efectos de los desalineamientos cambiarios y monetarios sobre inflación. Se concluye que los desalineamientos monetarios y/o cambiarios del orden de 10 por ciento producen por separado una aceleración en la tendencia inflacionaria cercana a 0.6-0.7 por ciento trimestral.

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Bibliographic Info

Paper provided by Instituto de Economia. Pontificia Universidad Católica de Chile. in its series Documentos de Trabajo with number 243.

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Date of creation: 2003
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Publication status: Published as "Desalineamientos Monetarios, Desalineamientos Cambiarios e Inflación", El Trimestre Económico, Vol. 72, Nº 3, pp. 545-579, 2005.
Handle: RePEc:ioe:doctra:243

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Related research

Keywords: Inflación; tipo de cambio real; expansión monetaria;

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References

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  1. Sjaastad, Larry A., 1998. "On exchange rates, nominal and real," Journal of International Money and Finance, Elsevier, vol. 17(3), pages 407-439, June.
  2. Larry A Sjaastad, 1996. "Recent Evolution of the Chilean Real Exchange Rate," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 33(98), pages 109-132.
  3. T. W.Swan, 1960. "Economic Control In A Dependent Economy," The Economic Record, The Economic Society of Australia, vol. 36(73), pages 51-66, 03.
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Cited by:
  1. Jorge Hermann & Rómulo Chumacero, 2005. "No Estaba Muerta, ...: La Teoría Cuantitativa y la Relación entre Dinero e Inflación," Working Papers Central Bank of Chile 324, Central Bank of Chile.

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