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Los Efectos de la Indización Cambiaria y Salarial en el Control de la Inflación: el Caso de Chile, 1975-1981

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  • Alexander Galetovic
  • Luis Felipe Lagos

    (Instituto de Economía)

Abstract

In 1975 Chile implemented an ortodox stabilization program. The fiscal deficit was sharply reduced and monetary policy was tight. However, indexation of wages and the exchange rate to past inflation implied that inflation only gradually declined. In fact,

Suggested Citation

  • Alexander Galetovic & Luis Felipe Lagos, 1990. "Los Efectos de la Indización Cambiaria y Salarial en el Control de la Inflación: el Caso de Chile, 1975-1981," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 27(82), pages 357-380.
  • Handle: RePEc:ioe:cuadec:v:27:y:1990:i:82:p:357-380
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    File URL: http://www.economia.uc.cl/docs/082lagoa.pdf
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    References listed on IDEAS

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    1. Dickey, David A & Fuller, Wayne A, 1981. "Likelihood Ratio Statistics for Autoregressive Time Series with a Unit Root," Econometrica, Econometric Society, vol. 49(4), pages 1057-1072, June.
    2. Baxter, Marianne, 1985. "The role of expectations in stabilization policy," Journal of Monetary Economics, Elsevier, vol. 15(3), pages 343-362, May.
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