Dinero e Inflación en el Marco de Metas de Inflación

Pablo García S. and Rodrigo Valdés
Authors registered in the RePEc Author Service: Pablo Garcia Silva

Working Papers Central Bank of Chile from Central Bank of Chile

Abstract: This work describes the role of money in the current inflation-targeting framework in Chile, in particular given the large recent annual increase of M1A. From a conceptual point of view, we analyze the relationship between money growth and inflation, as well as the interpretation of the movements in monetary aggregates. Empirically, we evaluate the informational content of money as an indicator of inflationary pressures in Chile, as well as whether the recent evolution of M1A is consistent with money demand fundamentals. The evidence indicates that the recent trajectory of money does not represent a relevant risk to the achievement of the inflation target.

Date: 2003-01
New Economics Papers: this item is included in nep-cba, nep-lam and nep-mac
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Persistent link: https://EconPapers.repec.org/RePEc:chb:bcchwp:198

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