EFFECT OF THE CREDIBILITY OF THE CENTRAL BANK ON THE INFLATION OF THE MEMBER COUNTRIES OF THE PACIFIC ALLIANCE 2007-2017 EFECTO DE LA CREDIBILIDAD DEL BANCO CENTRAL SOBRE LA INFLACION DE LOS PAISES QUE CONFORMAN LA ALIANZA DEL PACIFICO 2007- 2017

Daniel Botero Guzman and Anderson Stiveen Castro Alvarez

Revista Internacional Administracion & Finanzas, 2022, vol. 15, issue 1, 15-28

Abstract: Central bank credibility is a fundamental characteristic for the effective control of inflation. This paper quantifies the central bank credibility of the member countries of the Pacific Alliance; by calculating an index consisting in six key sub-indices. Then, using macropanel techniques, the effect of credibility on inflation is estimated. The results obtained show that the central banks of Chile, Colombia, México y Perú have a good degree of credibility and this has an average negative and significant influence on inflation.

Keywords: Central Bank; Credibility; Inflation; Monetary Policy (search for similar items in EconPapers)
JEL-codes: E52 E58 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:ibf:riafin:v:15:y:2022:i:1:p:15-28

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