Monetary Policy in Advanced Economies: Some Challenges for Emerging Economies - Monetary Policy in Advanced Economies: Some Challenges for Emerging Economies - Central Bank of Chile
The Series of Economic Policy Papers of the Central Bank of Chile presents views and analyses of the Chilean economy and the conduct of monetary policy prepared by Bank authorities. This series, aimed at the general public, disseminates and discusses topics that are relevant to the goals and operations of the Central Bank.
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This document explores the consequences and policy options for emerging market economies facing the expansionary monetary policies followed by advanced economies in recent years. Given the US dollar’s role as the primary transaction and reserve currency in global markets, the main focus is on the path of monetary policy in the US and its spill-over into emerging markets. Special attention is given to the policy framework that Chile has in place and how this framework helps to face situations like the ones we have seen during the last years and those that are likely to occur in the future.