Abstract:

Monetary policy, Emerging markets, Chile, Inflation targeting, Business cycles, Countercyclical Policy, inflation, real interest rates, real interest rate, nominal interest rates, terms of trade, real rates, real output, inflation target, monetary aggregate, terms of trade shocks, terms of trade shock, reduction in inflation, foreign exchange, monetary institutions, real exchange rates, inflation data, inflation growth, rational expectations, nominal interest rate, inflation deviation, lower inflation, macroeconomic stability, actual inflation