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Título : Monetary policy at the zero lower bound : the chilean experience
Autor : Céspedes, Luis Felipe 
García-Cicco, Javier 
Saravia, Diego 
Otros colaboradores: Universidad Católica Argentina. Facultad de Ciencias Económicas. Departamento de Investigación "Francisco Valsecchi"
Fecha de publicación : 2014
Editorial : Banco Central de Chile
Cita : Céspedes, L.F., García Cicco, J., Saravia, D. Monetary policy at the zero lower bound : the chilean experience [en línea]. En Bauducco, S., Christiano, L., Raddatz, C. (eds.). Macroeconomic and financial stability : challenges for monetary policy. Central banking, analysis and economic policies book series ; vol. 19, Santiago de Chile: Central Bank of Chile, 2014. Disponible en:
Resumen : "The global financial crisis that started in 2008 dramatically changed the analysis and implementation of monetary policy worldwide. Central banks were at the center of the stage during that time, implementing both conventional and unconventional policies. Not only were monetary policy rates drastically reduced, but also diverse policy measures were implemented: purchases of a wide range of financial assets, lending to financial institutions, intervening exchange rate markets and paying interest on reserves. Given that these policies challenged the conventional view embedded in the predominant monetary policy model, within which central banks control only a short-term interest rate, it is most important to understand how these policies have worked, and to what extent they were successful..."
Cobertura Espacial: Chile
Disciplina: ECONOMIA
Derechos: Acceso Abierto
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