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Credibilidad, Problema Peso y Comportamiento de las Tasas de Interés: Chile 1979-1982

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  • Leonardo Hernández

Abstract

This paper analyzed the behavior of domestic interest rates after opening the Capital Account in Chile. Contrary to what has been argued by others, the Uncovered Interest Rate Parity Condition seems to hold when we allow for the possibility of a change in

Suggested Citation

  • Leonardo Hernández, 1991. "Credibilidad, Problema Peso y Comportamiento de las Tasas de Interés: Chile 1979-1982," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 28(85), pages 385-410.
  • Handle: RePEc:ioe:cuadec:v:28:y:1991:i:85:p:385-410
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    References listed on IDEAS

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    1. Backus, David & Driffill, John, 1985. "Inflation and Reputation," American Economic Review, American Economic Association, pages 530-538.
    2. Adrian Pagan, 1986. "Two Stage and Related Estimators and Their Applications," Review of Economic Studies, Oxford University Press, pages 517-538.
    3. Maurice Obstfeld, 1985. "The Capital Inflows Problem Revisited: A Stylized Model of Southern Cone Disinflation," Review of Economic Studies, Oxford University Press, vol. 52(4), pages 605-625.
    4. Vittorio Corbo & Jaime de Melo & James Tybout, 2015. "What Went Wrong with the Recent Reforms in the Southern Cone," World Scientific Book Chapters,in: Developing Countries in the World Economy, chapter 2, pages 21-54 World Scientific Publishing Co. Pte. Ltd..
    5. Baxter, Marianne, 1985. "The role of expectations in stabilization policy," Journal of Monetary Economics, Elsevier, pages 343-362.
    6. David Backus & John Driffill, 1985. "Rational Expectations and Policy Credibility Following a Change in Regime," Review of Economic Studies, Oxford University Press, vol. 52(2), pages 211-221.
    7. Corbo, Vittorio & De Melo, Jaime, 1985. "Overview and summary," World Development, Elsevier, vol. 13(8), pages 863-866, August.
    8. Andersen, Torben M. & Risager, Ole, 1988. "Stabilization policies, credibility, and interest rate determination in a small open economy," European Economic Review, Elsevier, vol. 32(2-3), pages 669-679, March.
    9. Pagan, Adrian, 1984. "Econometric Issues in the Analysis of Regressions with Generated Regressors," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 25(1), pages 221-247, February.
    10. Daniel Cohen & Philippe Michel, 1988. "How Should Control Theory Be Used to Calculate a Time-Consistent Government Policy?," Review of Economic Studies, Oxford University Press, vol. 55(2), pages 263-274.
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