Discretion of the Monetary Policy: An Exemplification with Bolivia

Simple item page
dc.contributor.authorRivero Roger Alejandro Banegas
dc.contributor.authorMarco Alberto Núñez Ramírez
dc.contributor.authorRíoe Sacnicté Valdez del
dc.coverage.spatialBolivia
dc.date.accessioned2026-03-22T15:20:03Z
dc.date.available2026-03-22T15:20:03Z
dc.date.issued2019
dc.descriptionCitaciones: 2
dc.description.abstractAbstract In this paper, we evaluate and quantify the role of the discretion of the monetary policy in an open small and open economy (the case of Bolivia). The results suggest that conventional instruments of the Central Bank respond in different ways: interest rates present a sensitive/elastic response to output gap (actual economic cycle) [1.8]; an inelastic mechanism to inflation [0.5]. On the other hand, open market operations in the Central Bank responds elastically to inflation [1.2] and insensible to the output gap. These results are robust to alternative specification utilizing the Generalized Method of moments (GMM), for the quarterly period from 2000(T1)-2015(T4).
dc.identifier.doi10.2478/saeb-2019-0006
dc.identifier.urihttps://doi.org/10.2478/saeb-2019-0006
dc.identifier.urihttps://andeanlibrary.org/handle/123456789/51760
dc.language.isoen
dc.publisherDe Gruyter Open
dc.relation.ispartofScientific Annals of Economics and Business
dc.sourceGabriel René Moreno Autonomous University
dc.subjectDiscretion
dc.subjectEconomics
dc.subjectMonetary policy
dc.subjectExemplification
dc.subjectInflation (cosmology)
dc.subjectSmall open economy
dc.subjectMonetary economics
dc.subjectCentral bank
dc.subjectOutput gap
dc.subjectOpen market operation
dc.titleDiscretion of the Monetary Policy: An Exemplification with Bolivia
dc.typearticle

Files

Collections

Artículo Científico Publicado