U.S. monetary policy's impact on Latin America’s structure of production (1960-2010)



Título del documento: U.S. monetary policy's impact on Latin America’s structure of production (1960-2010)
Revista: Latin american journal of economics
Base de datos: CLASE
Número de sistema: 000418682
ISSN: 0719-0425
Autores: 1
Instituciones: 1Metropolitan State University of Denver, Department of Economics, Denver, Colorado. Estados Unidos de América
Año:
Periodo: May
Volumen: 52
Número: 1
Paginación: 95-116
País: Chile
Idioma: Inglés
Tipo de documento: Artículo
Enfoque: Analítico
Resumen en inglés 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
Disciplinas: Economía
Palabras clave: Política económica,
Economía monetaria,
Condiciones económicas,
Política monetaria,
Banco Central,
Tasas de interés,
Crisis,
Estructura económica,
Impacto económico,
Estados Unidos de América,
América Latina
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