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Evolución de los esquemas de política monetaria
Evolution of monetary policy schemes
DOI:
https://doi.org/10.15446/ede.v33n62.98494Keywords:
Política Monetaria, Economía Monetaria, Esquemas de Monitoreo, Instrumentos de política (es)Monetary Policy, Monetary Economics, Monitoring Schemes, Policy Instruments (en)
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En este artículo se revisa los esquemas de política monetaria que emplea un banco central para estabilizar una economía. Para cumplir con este objetivo, se examinan diferentes enfoques conceptuales como la tasa de interés real neutral (TIRN), enfoque de inflación objetivo, enfoque de flexibilidad cuantitativa, visiones de Stiglitz (2010) y Krugman (2017) sobre política monetaria y las recientes perspectivas de data dependence, market intelligence y Risk Management. A su vez, sintetiza los esquemas de política monetaria en una propuesta que plantea un esquema de monitoreo de pleno empleo con estabilidad económica y financiera.
This article reviews the monetary policy schemes that a central bank employs to stabilize an economy. To achieve this objective, different conceptual approaches are reviewed, such as the Neutral Real Interest Rate (IRRN), objective inflation approach, quantitative flexibility approach, views of Stiglitz (2010) and Krugman (2017) on monetary policy and the recent perspectives of data dependency, market intelligence and Risk Management. Furthermore, it synthesizes the monetary policy schemes in a proposal that raises a monitoring scheme for full employment with economic and financial stability.
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