U.S. MONETARY POLICY'S IMPACT ON LATIN AMERICA'S STRUCTURE OF PRODUCTION (1960-2010)

dc.creator	Cachanosky,Nicolás
dc.date	2015-05-01
dc.date.accessioned	2019-04-25T12:42:05Z
dc.date.available	2019-04-25T12:42:05Z
dc.identifier	https://scielo.conicyt.cl/scielo.php?script=sci_arttext&pid=S0719-04332015000100005
dc.identifier.uri	http://revistaschilenas.uchile.cl/handle/2250/61332
dc.description	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.
dc.format	text/html
dc.language	en
dc.publisher	Pontificia Universidad Católica de Chile. Instituto de Economía.
dc.relation	10.7764/LAJE.52.1.95
dc.rights	info:eu-repo/semantics/openAccess
dc.source	Latin american journal of economics v.52 n.1 2015
dc.subject	monetary policy
dc.subject	Latin America
dc.subject	international business cycles
dc.subject	structure of production
dc.title	U.S. MONETARY POLICY'S IMPACT ON LATIN AMERICA'S STRUCTURE OF PRODUCTION (1960-2010)