A Toolkit for Analyzing Alternative Policies in the Chilean Economy
In: General Equilibrium Models for the Chilean Economy
This paper presents a general equilibrium model for a small open economy that can be used to assess the effects of alternative policies. The model is estimated in order to replicate key characteristics of the Chilean economy by using the gradients of an Identified VAR model as matching conditions for the theoretical model. The theoretical model is sufficiently general so that it can be used to analyze issues such as alternative exchange rate regimes, controls to capital inflows, inflation targeting, and other policies used by the monetary authority. A distinguishing feature of this model is that it explicitly models the attitudes of foreign investors.
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|This chapter was published in: Rómulo A. Chumacero & Klaus Schmidt-Hebbel & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Series Editor) (ed.) General Equilibrium Models for the Chilean Economy, , chapter 8, pages 261-302, 2005.|
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