Policy Responses to External Shocks: The Experiences of Australia, Brazil and Chile
Luis Cespedes (),
Phil Lowe and
Working Papers Central Bank of Chile from Central Bank of Chile
Open economies, particularly emerging markets and commodity-intensive economies, deal with large external shocks. Interestingly enough, policy reactions and policy set-ups may dampen or amplify the consequences of these shocks, affecting the magnitude of the shock. This paper revisits the recent experience of policy frameworks and reactions in three countries: Australia, Brazil and Chile. In particular, we analyse and evaluate alternative policy set-ups and policy reactions to the Asian crisis in the period 1997-98, and to the lower world growth and higher risk aversion in 2001-2002.
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Chapter: Policy Responses to External Shocks: The Experiences of Australia, Brazil, and Chile (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:chb:bcchwp:321
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