El Banco Central de Chile en Comparación con los Bancos Centrales del Mundo
How does the performance of the Central Bank of Chile (CBCH) compare to other central banks and in which dimensions? This paper summarizes the results of several studies that report international comparisons of different features of central banking and monetary policy. The evidence places the CBCH among the top central banks in the world in the following areas: size, legal and operational independence; transparency, and quality of the inflation report; quantity and quality of the research papers; and efficiency of monetary policy reflected by its accuracy in meeting inflation targets, its counter-cyclical stance, and its contribution to overall macroeconomic stability.
|Date of creation:||Jun 2006|
|Date of revision:|
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- Cukierman, Alex & Webb, Steven B & Neyapti, Bilin, 1992. "Measuring the Independence of Central Banks and Its Effect on Policy Outcomes," World Bank Economic Review, World Bank Group, vol. 6(3), pages 353-98, September.
- Stephen Morris & Hyun Song Shin, 2002. "Social Value of Public Information," American Economic Review, American Economic Association, vol. 92(5), pages 1521-1534, December.
- Stephen G. Cecchetti & Alfonso Flores-Lagunes & Stefan Krause, 2004.
"Has Monetary Policy Become More Efficient? A Cross Country Analysis,"
NBER Working Papers
10973, National Bureau of Economic Research, Inc.
- Stephen G. Cecchetti & Alfonso Flores-Lagunes & Stefan Krause, 2006. "Has Monetary Policy become more Efficient? a Cross-Country Analysis," Economic Journal, Royal Economic Society, vol. 116(511), pages 408-433, 04.
- Frederic S Mishkin, 2004.
"Can Central Bank Transparency Go Too Far?,"
RBA Annual Conference Volume,
in: Christopher Kent & Simon Guttmann (ed.), The Future of Inflation Targeting
Reserve Bank of Australia.
- César Calderón & Roberto Duncan & Klaus Schmidt-Hebbel, 2004. "Institutions and Cyclical Properties of Macroeconomic Policies," Working Papers Central Bank of Chile 285, Central Bank of Chile.
- Klaus Schmidt-Hebbel & Cesar Calderon & Roberto Duncan, 2004. "The quality of institutions and cyclical properties of macroeconomic policies," Econometric Society 2004 Latin American Meetings 350, Econometric Society.
- World Bank, 2006. "World Development Indicators 2006," World Bank Publications, The World Bank, number 8151.
- Schmidt-Hebbel, Klaus & Tapia, Matias, 2002. "Inflation targeting in Chile," The North American Journal of Economics and Finance, Elsevier, vol. 13(2), pages 125-146, August.
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