Rule, what rule? : Argentina and its monetary policy rule
The choice of a control variable for monetary policy characterizes the welfare (loss) function that a central bank will want to maximize (minimize). Even, it gives rise to the proposal of following a rule versus applying -in a discretionally way- a monetary policy. When discussing the application o...
Guardado en:
| Autores principales: | , |
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| Formato: | Objeto de conferencia |
| Lenguaje: | Inglés |
| Publicado: |
2018
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| Materias: | |
| Acceso en línea: | http://sedici.unlp.edu.ar/handle/10915/165413 |
| Aporte de: |
| Sumario: | The choice of a control variable for monetary policy characterizes the welfare (loss) function that a central bank will want to maximize (minimize). Even, it gives rise to the proposal of following a rule versus applying -in a discretionally way- a monetary policy.
When discussing the application of a rule, its manifestation may not be completely explicit.
In this paper we try to establish a monetary policy rule for Argentina, working with an extended Taylor Rule, contemplating the influence of the exchange rate and the fiscal deficit during the last thirteen years. |
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