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DESALINEACIONES MONETARIAS Y CAMBIARIAS E INFLACIÓN: Chile, 1986-2003

Rodrigo Cerda Norambuena and Aldo Lema Navarro
El Trimestre Económico
Vol. 72, No. 287(3) (Julio-Septiembre de 2005), pp. 545-579
Stable URL: http://www.jstor.org/stable/20856869
Page Count: 35
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Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
DESALINEACIONES MONETARIAS Y CAMBIARIAS E INFLACIÓN: Chile, 1986-2003
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Abstract

Este artículo se centra en analizar los mecanismos de trasmisión de las desalineaciones monetarias y cambiarias respecto a la inflación. Para esto, inicialmente se determinan los equilibrios en estos mercados y, por tanto, se estudia la demanda por dinero y la trayectoria de largo plazo del tipo de cambio real. Estos dos temas se utilizan como fundamentos para analizar los efectos de las desalineaciones cambiarias y monetarias en la inflación. El análisis empírico se realiza a partir de datos agregados y desagregados por tipo de productos de consumo. This document is centered in analyzing the mechanisms of transmission of the monetary and real exchange rate imbalances on the inflation rate. It initially focuses on determining the balances on these markets, and therefore, it studies the money demand and the long run trajectory of the real exchange rate. These two subjects are used like foundations to analyze the effects of the exchange and monetary imbalances on inflation. The empirical analysis relies upon aggregated data and data by baskets of different consumption goods.

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