| Journal: | Latin american journal of economics |
| Database: | CLASE |
| System number: | 000418682 |
| ISSN: | 0719-0425 |
| Authors: | Cachanosky, Nicolás1 |
| Institutions: | 1Metropolitan State University of Denver, Department of Economics, Denver, Colorado. Estados Unidos de América |
| Year: | 2015 |
| Season: | May |
| Volumen: | 52 |
| Number: | 1 |
| Pages: | 95-116 |
| Country: | Chile |
| Language: | Inglés |
| Document type: | Artículo |
| Approach: | Analítico |
| English abstract | This paper examines the effects of U.S. monetary policy on Latin America's production structure before two economic crises, specifically the effects of monetary policy on the real economy at the industrial level. Changes in the federal funds rate produce uneven effects on output trends across sectors and industries that are more capital-intensive and involved in relatively long-term projects are more sensitive to changes in the federal funds rate. Periods of loose monetary policy result in resource misallocation that is costly to correct during a bust if investment is irreversible, with a particular pattern of economic distortion during an unsustainable boom |
| Disciplines: | Economía |
| Keyword: | Política económica, Economía monetaria, Condiciones económicas, Política monetaria, Banco Central, Tasas de interés, Crisis, Estructura económica, Impacto económico, Estados Unidos de América, América Latina |
| Full text: | Texto completo (Ver PDF) |
