Bogotá, Colombia

Sudden stops seem to create the perfect environment for disinflation, especially when central banks defend the exchange rate by increasing interest rates. We propose a variation of the output gap model that incorporates the sudden stop shock. The use of the model in policy analysis shows that…

The World Bank has proposed an alternative hedging instrument to be offered by the FRECH, instead of the collar-swap currently available. The suggested derivative corresponds to a European Cap option for the real interest rate, which could give greater flexibility to the hedging mechanism,…

Political economists have traditionally been indifferent to the communicative construction of money and central banking in the public sphere. It does not matter to them whether monetary affairs are rendered as a rational game over the preservation of the value of the currency or, for example, as…

Expositor: 

Klaus Schmidt-Hebbel

From Hyperination to Stable Prices: Argentina's Evidence on Menu Cost Models

Fecha: julio 07 de julio de 2011

Hora: 10:30 a.m.

Lugar: Banco de la República, carrera 7 # 14-78,…

Resumen:

Abstract: