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Skewed Forward-Looking Monetary Policy Behavior: A Look at the Latin American Inflation Targeting Practice
(Pontificia Universidad Católica del Perú. CENTRUM, 2010)
Estimation of forward-looking interest rate rules is ubiquitous in the context of developed-economy central banks. In this paper, the five countries in Latin America that have adopted the Inflation Targeting framework are ...
The Monetary and Fiscal History of Peru, 1960-2017: Radical Policy Experiments, Inflation and Stabilization
(Pontificia Universidad Católica del Perú. Departamento de Economía, 2018-12)
We show that Peru’s chronic inflation through the 1970s and 1980s was the result of the need for
inflationary taxation in a regime of fiscal dominance of monetary policy. Hyperinflation occurred when
debt accumulation ...