Chile : Selected Issues Paper

This Selected Issues paper examines the acceleration of inflation over the past year in Chile, identifying domestic shocks to food and energy prices as main drivers. The paper uses the Jeanne-Rancière model to calculate Chile's optimal ratio of international reserves to GDP. It analyzes the stabilization properties of Chile's macroeconomic framework and compares it with alternative policy rules. The paper concludes that Chile's framework based on an explicit inflation target, a floating exchange rate, and a structural fiscal surplus rule is superior to other arrangements.
Publication date: July 2008
ISBN: 9781451807677
$18.00
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Topics covered in this book

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Inflation , real interest rates , international monetary fund , central bank , real interest

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