Inflación y Tipo de Cambio: Chile 1810-2005
During the last two centuries Chile had three official monetary units of account, where changes from one to the other can be seen as related to price level variations stretching over many years . For description and analysis this prolonged but also highly variable inflation environment will require previous adjustment of time series expressed in current monetary terms. The present document discusses sources and explains the construction of price level indicators stretching over this long time period, both for wholesale and consumer prices. It also refers to exchange rate series and explains how a unique price is obtained in periods of multiple rate policy. Finally, various indicators for the real exchange rate are brought together.
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