Hysteresis from monetary policy mistakes: how bad could it be?

What would happen if the central bank makes a mistake facing a crisis? This paper argues that it would leave scars in the long-run trend of production. If monetary policy is not expansionary-enough during crises, an inefficient rise of the interest rate intensifies the scarring effects of recessions...

Full description

Autores:

Dávila Ospina, Andrés Octavio

Tipo de recurso:

Fecha de publicación:

2021

Institución:

Universidad de los Andes

Repositorio:

Séneca: repositorio Uniandes

Idioma:

eng

OAI Identifier:

oai:repositorio.uniandes.edu.co:1992/50892

Acceso en línea:

http://hdl.handle.net/1992/50892

Palabra clave:

Política monetaria
Histéresis (Economía)
Crecimiento endógeno (Economía)
Desempleo
Economía

Rights

openAccess

License

http://creativecommons.org/licenses/by-nc-nd/4.0/