Munich Personal RePEc Archive

Efectos de la Globalizacion sobre la Inflacion y la politica Monetaria Domestica

Adamcik, Santiago (2008): Efectos de la Globalizacion sobre la Inflacion y la politica Monetaria Domestica.

[img]
Preview
PDF
MPRA_paper_9242.pdf

Download (59Kb) | Preview

Abstract

This paper discusses that many of the exaggerated claims that globalization has been an important element in the reduction of the inflation in the recent years do not come true. The globalization has, however, the potential to contribute to the stabilization of economies and this has been crucial element in promoting the growth of economies. The paper, therefore, analyzes four issues on the impact of the globalization upon the mechanisms of monetary transmission and arrives at the following findings. ( 1 ) Globalization did not reduce the sensibility of inflation to the domestic production gaps and in consequence to the effectiveness of the monetary policy,. ( 2 ) Gaps in the product of external economies do not play a more important role than in other times,.( 3 ) Domestic monetary policy maintains still the control on the domestic interest rates and that way pursuing the stabilization of inflation and the product,.( 4 ) Globalization affects, by means of different forms, the mechanisms of monetary transmission

UB_LMU-Logo
MPRA is a RePEc service hosted by
the Munich University Library in Germany.