|
|
|
|
|
|
Author/Editor:
|
Canales Kriljenko, Jorge Iván ; Jácome, Luis Ignacio ; Alichi, Ali ; de Oliveira Lima, Ivan Luis
|
|
|
|
|
|
Publication Date:
|
December 01, 2010
|
|
|
|
Electronic Access:
|
Free Full text
(PDF file size is 2,268KB).
Use the free
Adobe Acrobat Reader
to view this PDF file
|
|
|
Disclaimer: This Working Paper should not be reported as representing the views of the IMF.
The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
|
|
|
|
|
Summary:
This paper highlights that central banks from Brazil, Chile, Colombia, Mexico, and Peru (the LA5 countries) reaped the benefits of what they sowed in successfully weathering the global crisis. The adoption of far-reaching institutional, policy, and operational reforms during the last two decades enabled central banks to build credibility about their commitment with the objective of price stability. Thus, when the 2007 - 08 supply shock and the financial crisis hit the world, the LA5 central banks reacted swiftly and effectively based on a flexible policy framework and with the support of strong macroeconomic and financial foundations. Building on the experience of the LA5 central banks and complementing with recommendations from the IMF’s technical advice, the paper provides several suggestions for countries seeking to strengthen the effectiveness of monetary policy.
|
|
|
|
Order a print copy
|
|
|
|
|
|
Series:
|
Working Paper No. 10/292
|
|
|
|
|
|
Subject(s):
|
Brazil | Central bank autonomy | Central banks | Chile | Colombia | Cross country analysis | Financial crisis | Global Financial Crisis 2008-2009 | Inflation targeting | Latin America | Mexico | Monetary policy | Peru
|
|
|
Author's Keyword(s):
|
Latin America | monetary policy | inflation targeting |
|
|
|
|
|
|
|
|
|
|
English
|
|
|
|
|
|
|
Publication Date:
|
December 01, 2010
|
|
|
|
|
|
|
|
Format:
|
Paper
|
|
Stock No:
|
WPIEA2010292
|
|
Pages:
|
56
|
|
Price:
|
|
|
|
US$18.00 )
|
|
|
|
|
|
|
|
|
Please address any questions about this title to
publications@imf.org
|
|
|
