BIS paper surveys financial shocks in Latin America
Authors study the most effective policy response to financial shocks in different countries
Latin American countries suffer some real economy effects from financial shocks, and can make use of various policies to defend themselves, according to a working paper published by the Bank for International Settlements.
A large group of authors from central banks, the BIS and academia set out a New Keynesian model based around a financial intermediation sector and a commodities sector, estimating the model for the economies of Chile, Colombia, Mexico and Peru.
In general, the authors find
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