| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP14967 |
| DP14967 Comfort in Floating: Taking Stock of Twenty Years of Freely-Floating Exchange Rate in Chile | |
| Elias Albagli; Mauricio Calani; Metodij Hadzi-Vaskov; Mario Marcel; Luca Antonio Ricci | |
| 发表日期 | 2020-06-29 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | Chile offers an example of a country that has overcome the fear of floating by reducing balance sheet mismatches, enhancing financial market development, as well as improving monetary, fiscal, and political institutions, and strengthening policy credibility. Under the floating regime, Chile’s economic adjustment to external shocks appears significantly improved, and its exchange rate pass-through has substantially declined. Our results reinforce the case that moving to a clear and credible floating regime can be associated with a reduction in the fear of floating via economic transformation (like smaller balance sheet mismatches, a larger hedging market, and a lower exchange rate pass-through). |
| 主题 | International Macroeconomics and Finance ; Monetary Economics and Fluctuations |
| 关键词 | Exchange rate regime Fx derivatives Hedging Exchange rate pass-through Policy credibility Central bank independence |
| URL | https://cepr.org/publications/dp14967 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/543910 |
| 推荐引用方式 GB/T 7714 | Elias Albagli,Mauricio Calani,Metodij Hadzi-Vaskov,et al. DP14967 Comfort in Floating: Taking Stock of Twenty Years of Freely-Floating Exchange Rate in Chile. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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