التفاصيل البيبلوغرافية
| العنوان: |
Taylor’s rule, political cycle, and Latin America—An analysis of time series in search of responsibility for monetary stabilization |
| المؤلفون: |
Menezes Nery de Oliveira, Nadja Simone, Mourao, Paulo Reis |
| المساهمون: |
Gozgor, Giray, Fundação para a Ciência e a Tecnologia |
| المصدر: |
PLOS ONE ; volume 16, issue 12, page e0259314 ; ISSN 1932-6203 |
| بيانات النشر: |
Public Library of Science (PLoS) |
| سنة النشر: |
2021 |
| المجموعة: |
PLOS Publications (via CrossRef) |
| الوصف: |
The decades before 1990 were dramatic for Latin American economies. However, from 1990 onwards, a set of policies followed by the various states in the region acheived economic stabilization with real income recovery. The attribution of this success has been disputed by politicians, economists and officials from international economic support institutions. This work will analyze the responsibility for this success in 4 economies in the region (Brazil, Colombia, Mexico and Peru). Through the combined analysis of ARDL, Markov states and structural breaks, we highlight different sources of responsibility in different periods. Additionally, detailing the states of each regime, we verify the duration of the regimes related to inflation rates and to interest rates in the region. We identify specific governments as associated with moments of economic stabilization in the region, so the hypothesis of the political cycle cannot be rejected for the set of results achieved. As policy implication, we claim that Taylor rules are endogenous to Political Budget Cycles and so stabilization plans are restricted to political tenures. |
| نوع الوثيقة: |
article in journal/newspaper |
| اللغة: |
English |
| DOI: |
10.1371/journal.pone.0259314 |
| الإتاحة: |
https://doi.org/10.1371/journal.pone.0259314Test |
| حقوق: |
http://creativecommons.org/licenses/by/4.0Test/ |
| رقم الانضمام: |
edsbas.A6083DD4 |
| قاعدة البيانات: |
BASE |
