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Incorporating Financial Sector Risk into Monetary Policy Models: Application to Chile

Author/Editor: Dale F. Gray, Carlos Garcia, Leonardo Luna, Jorge Restrepo.

Release Date:September, 2011

This paper builds a model of financial sector vulnerability and integrates it into a macroeconomic framework, typically used for monetary policy analysis. The main question to be answered with the more...



Price: $18.00
Fiscal Rules in a Volatile World: A Welfare-Based Approach

Author/Editor: Carlos Garcia, Jorge Restrepo, Evan Tanner.

Release Date:March, 2011

It is widely agreed that a fiscal rule should boost discipline and credibility, reduce macroeconomic volatility, and be easily understood. To support such goals, a government may run structural more...



Price: $18.00
The Role of the Exchange Rate in Inflation-Targeting Emerging Economies

Author/Editor: Turgut Kisinbay, Seiichi Shimizu, Anna Nordstrom, Jorge Restrepo, Scott Roger, Mark R. Stone.

Release Date:November, 2009

This paper explores the role of exchange rates in emerging economies with inflation-targeting regimes, an issue that has become especially germane during the current episode of financial turmoil and more...



Price: $33.00
Hybrid Inflation Targeting Regimes

Author/Editor: Jorge Restrepo, Carlos Garcia, Scott Roger.

Release Date:October, 2009

This paper uses a DSGE model to examine whether including the exchange rate explicitly in the central bank's policy reaction function can improve macroeconomic performance. It is found that including more...



Price: $18.00