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

Rodrigo Valdés

No 2016, Research Department Publications from Inter-American Development Bank, Research Department

Abstract: This chapter 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. The chapter examines the policy reaction to the shocks, evaluating its most likely consequences and analyzing key policy constraints faced at the time. Finally, it describes how the economy adjusted and compares the Chilean episode with a few other recent sudden stop cases.

Keywords: Sudden Stop; Chile; Capital Flows; Adjustment (search for similar items in EconPapers)
JEL-codes: E58 E63 F32 (search for similar items in EconPapers)
Date: 2008-11
New Economics Papers: this item is included in nep-cba, nep-dev, nep-mac and nep-mon
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Related works:
Working Paper: Policy Responses to Sudden Stops in Capital Flows: The Case Of Chile In 1998 (2007)
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