拉美国家的产业结构与货币政策传导

IF 0.6 4区经济学 Q4 ECONOMICS

Investigacion Economica Pub Date : 2017-10-01 DOI:10.1016/j.inveco.2018.01.004

Jorge David Quintero Otero

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引用次数: 13

摘要

本文以制造业及其子行业数据为基础，对巴西、智利、哥伦比亚、墨西哥和秘鲁这五个实行通货膨胀目标制时间最长的拉美国家的产业结构进行了货币政策影响分析。结果表明，在利率渠道更相关的国家，货币政策对工业生产的影响更强，因为生产资本品和耐用消费品的子部门对货币决策更敏感。这些结果与价格刚性对货币政策对工业分部门的不同影响的作用密切相关。

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Industrial structure and transmission of monetary policy in Latin American countries

Based on data from the manufacturing industry and its subsectors, this article shows the impact of monetary policy according to the industrial structure in Brazil, Chile, Colombia, Mexico and Peru, the five Latin American countries adopting the system of inflation targeting for the longest time. Results show that the impact of monetary policy on industrial production is stronger in countries where the interest rate channel is more relevant, since the subsectors producing capital goods and durable consumer goods are more sensitive to monetary decisions. These results are closely linked to the role of price rigidities on the differential impact of monetary policy on industrial subsectors.

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来源期刊

Investigacion Economica ECONOMICS-

CiteScore

1.00

自引率

0.00%

发文量

期刊介绍： It is a specialized journal, bilingual (Spanish and English), plural and critical, which accepts and publishes scientific research articles in national and international economy. It is considered a public good that belongs to the University and society. Its vocation is to analyze the evolution of the theoretical and practical economics. In its pages the paradigms of economics, history of economic thought, the theories and debates about economic policy and its consequences, the diagnosis of the Mexican economy, the economic development of Latin America and the problems spread the world economy in general. It is a journal that does not discriminate plural none paradigm; theoretical orientation is unorthodox for epistemological reasons, not ideological preferences.