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News & Events
News
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21-Apr-2008
Compliance with the structural budget surplus rule, which has been in place since 2001, has allowed the government to maintain a counter cyclical fiscal stance in an environment of rising copper prices, while delivering a gradual reduction in public indebtedness. Monetary policy is conducted within a framework that combines inflation targeting with exchange rate flexibility. This paper relates to the 2007 Economic Survey of Chile (www.oecd.org/eco/surveys/chile).
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12-Mar-2008
This paper addresses the question of whether and how monetary policy ease may lead to excesses in financial and real asset markets and ultimately result in financial dislocation. It presents evidence suggesting that periods when short-term interest rates have been persistently and significantly below what Taylor rules would prescribe are correlated with increases in asset prices, especially as regards housing, though no systematic effects are identified on equity markets.
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26-Nov-2007
Compliance with the structural budget surplus rule, which has been in place since 2001, has allowed the government to maintain a counter cyclical fiscal stance in an environment of rising copper prices, while delivering a gradual reduction in public indebtedness. Monetary policy is conducted within a framework that combines inflation targeting with exchange rate flexibility. A Fiscal Responsibility Law was promulgated in September 2006, strengthening the macroeconomic framework further by embedding the fiscal rule in law and setting out regulations for the use of fiscal savings.
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23-Jan-2007
This chapter addresses the challenge that the adjustment to sustained high oil prices poses for macroeconomic management, particularly with respect to competitiveness and inflation. Economics Department Working Paper 537 by Christian Gianella.
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