Monetary policy challenges in Latin America / edited by Fernando Toledo (Professor of International Monetary Economics, Faculty of Economic Sciences, University of La Plata, Argentina) and Louis-Philippe Rochon (Full Professor, Laurentian University, Canada, Editor-in-Chief, Review of Political Economy and Founding Editor Emeritus, Review of Keynesian Economics).

Format:

Book

Contributor:

Toledo, Fernando, editor.

Rochon, Louis-Philippe, editor.

Edward Elgar Publishing, publisher.

Series:

New directions in post-Keynesian economics

New directions in post-Keynesian economics series

Language:

English

Subjects (All):

Monetary policy--Latin America.

Monetary policy.

Genre:

Electronic books.

Physical Description:

1 online resource (304 pages)

Place of Publication:

Northampton : Edward Elgar Publishing, 2023.

Summary:

"This ground-breaking book analyses the severe monetary policy challenges facing Latin American countries. Contributors reflect on how these issues should be addressed by policy-makers, identifying the need for a synergic response from regional central banks. Arguing that the challenges currently faced by regional central banks are intrinsically related, this book examines the risks generated by an international climate of uncertainty. It explores how to address inflationary pressures, output contraction, external vulnerabilities, tightness in advanced central banks' monetary policies, nominal dollar appreciation, and falling commodity prices. Chapters focus on key elements of monetary policy, including transmission channels, exchange rates, international reserves, sustainable finance, and income inequality, to give an alternative view on the position of regional central banks in the global financial system. Monetary Policy Challenges in Latin America will be an invaluable resource for students and scholars of monetary policy, development economics, banking, and political economy. It will also be essential reading for policy-makers seeking new perspectives on monetary policy"-- Provided by publisher.

Contents:

Contents: Introduction to monetary policy challenges in Latin America / Fernando Toledo and Louis-Philippe Rochon

Part I. Alternative views about central banks and monetary policy in lacs

1. Assessing the new "integrated policy framework": A counterfactual analysis of the case of argentina / Sebastián Valdecantos

2. Macroeconomic policy under a managed floating exchange rate regime: A critical appraisal of the international currency hierarchy literature / Simone Deos and Enzo Gerioni

Part II. Monetary policy transmission channels in lacs

3. Inflation targeting in open economies: The contradictions of determinacy and stability / Esteban Pérez Caldentey and Matías Vernengo

4. Limitations of monetary policies in open developing economies: External capital inflows and sterilisation policies / Noemí Levy Orlik

5. Global financial cycle and monetary policy rules: A neo-kaleckian model for emerging markets and developing economies / Gabriel Michelena and Fernando Toledo

Part III. Monetary policies and exchange rates in lacs

6. Exchange rate management in Latin America: Towards the making of a policy target exchange rate / Daniel Pérez-Ruiz, Gary Dymski, and Annina Kaltenbrunner

7. Real exchange rates, growth, and inflation targeting / Nelson Barbosa Filho

8. When are devaluations more contractionary? A quantile var estimation for argentina / Gabriel Montes-Rojas and Nicolás Bertholet

Part IV. Monetary policies, international reserves, and sustainable finance in lacs

9. Latin American reserve fund: Latin america's alternative to the imf? / William N. Kring

10. Climate change, monetary policy, and green finance in Latin America: The open economy dimension / Pablo G. Bortz and Nicole Toftum

Part V. Monetary policies, central banks, income inequality, and fiscal policies in lacs

11. Fiscal responses to income inequality surges. A panel estimation for emerging market and developing economies (emdes) / Jorge Carrera, Pablo de la Vega, and Fernando Toledo

12. Fiscal and monetary policy challenges after covid-19: The argentinean case / Damián Pierri

13. International reserves, repurchase agreements, and the brazilian monetary policy / Sylvio Antonio Kappes

14. External debt and economic growth in Latin America and the Caribbean / Alfredo Schclarek Curutchet

Index.

Notes:

Includes bibliographical references and index.

ISBN:

9781802200706 (e-book)

Access Restriction:

Restricted for use by site license.