Dedollarization, Indexation and Nominalization: The Chilean Experience

Luis Óscar Herrera and Rodrigo Valdés

Working Papers Central Bank of Chile from Central Bank of Chile

Abstract: This paper revisits the Chilean experience with dollarization, indexation and nominalization in the 1958-2003 period. The purpose is to understand how Chile generally avoided dollarization and actually dedollarized in the 80s in order to draw some lessons for other countries. We find that many policies that Chile pursued are not easy to implement elsewhere. Some key characteristics of the Chilean process are related to initial institutional conditions and developments, whereas others are connected to macroeconomic performance and specific regulations. Indexation plays a key role in explaining how dollarization can be avoided.

Date: 2004-05
New Economics Papers: this item is included in nep-cba
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Working Paper: Dedollarization, Indexation and Nominalization: the Chilean experience (2004)
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Persistent link: https://EconPapers.repec.org/RePEc:chb:bcchwp:261

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