Policy Responses to Sudden Stops in Capital Flows: The Case Of Chile In 1998

Rodrigo Valdés

Working Papers Central Bank of Chile from Central Bank of Chile

Abstract: This paper revisits the sudden stop in capital flows episode experienced by Chile in 1998. It documents the macroeconomic environment, the macro framework in place and the shocks that hit it. It then examines the policy reaction to the shocks, evaluating its most likely consequences and analyzing key policy constraints faced at that time. Finally, it describes how the economy adjusted and compares the Chilean episode to a few other recent sudden stop cases.

Date: 2007-10
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Citations: View citations in EconPapers (2)

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Working Paper: Policy Responses to Sudden Stops in Capital Flows: The Case of Chile in 1998 (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:chb:bcchwp:430

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