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Política monetaria y oferta de dinero en Uruguay (1931 a 1959): nuevos contextos y nuevos instrumentos

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  • Carolina Román Ramos

Abstract

Este artículo analiza las principales características de la política monetaria entre 1931 y 1959, y relaciona los cambios en la misma con el contexto nacional e internacional. Se identifican dos cambios de primera importancia. Por un lado, la función cada vez más significativa y determinante del Banco de la República Oriental del Uruguay (BROU) en la conducción de la política monetaria y cambiaria. Por otro, los cambios introducidos en el sistema de emisión como principal mecanismo de acción de la política monetaria. Esas transformaciones revelan la transición hacia una política donde se prioriza la flexibilidad a través de la introducción de puntales de emisión ligados a fuentes internas, reemplazando la rigidez característica del régimen del patrón oro. Se describe también la vinculación entre la evolución de la cantidad de dinero y el nivel de actividad, para finalmente plantear algunas hipótesis sobre la relación entre el dinero y los precios.

Suggested Citation

  • Carolina Román Ramos, 2012. "Política monetaria y oferta de dinero en Uruguay (1931 a 1959): nuevos contextos y nuevos instrumentos," Revista ESPE - Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 30(67), pages 176-213, July.
    • Handle: RePEc:bdr:ensayo:v:30:y:2012:i:67:p:176-213
    DOI: 10.32468/Espe.6706
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    Keywords

    Política monetaria; oferta de dinero; patrón oro; historia económica del Uruguay;
    All these keywords.

    JEL classification:

    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • N16 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Latin America; Caribbean

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