Exchange rate interventions and inflation expectations in an inflation targeting Economy

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Auteur
Date

1 décembre 2018

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Type de document
Périmètre
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Source

Revista de análisis económico

Relations

Ce document est lié à :
10.4067/S0718-88702018000200043

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SciELO : Scientific Electronic Library Online

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SciELO

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info:eu-repo/semantics/openAccess

Mots-clés Und

Exchange rates inflation expectations inflation targeting interventions

Sujets proches En

Fixed exchange rates Exchange rates Fluctuating exchange rates Flexible exchange rates Rates of exchange Foreign exchange--Rates Floating exchange rates Targeting, Inflation

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Pablo Pincheira Brown, « Exchange rate interventions and inflation expectations in an inflation targeting Economy », Revista de análisis económico, ID : 10670/1.ixiupd

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Résumé 0

: We explore the impact of exchange rate interventions on inflation expectations and exchange rates in Chile. We consider two episodes of central bank interventions during the sample period 2007-2012. Our analysis indicate that interventions did have an impact on daily exchange rate returns. In terms of inflation expectations, we find that the intervention program carried out in 2008 had a significant, but relatively short-lived, impact on the distribution of inflation expectations at long horizons. In contrast, the intervention carried out in 2011 shows no relevant impact on the distribution of inflation expectations in Chile.

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