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The Asymmetric Effects of Monetary Policy in General Equilibrium
(Pontificia Universidad Católica del Perú. CENTRUM, 2008)
The study involved extending a dynamic general equilibrium neoKeynesian model by considering preferences that exhibit intertemporal nonhomotheticity. Introducing this feature generates a state-dependent intertemporal ...
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 Evolving Role of Reserve Requirements in Monetary Policy
(Pontificia Universidad Católica del Perú. CENTRUM, 2013)
The design of monetary policy has been a subject of debate in the specialized literature. Over the last three decades, this literature has moved from questioning the very existence of reserve requirements (RRs) to analyzing ...