Macroeconomic achievements in the democratic transition in Chile
Chile has become the most dynamic economy of Latin America in the 1990s. Key macroeconomic indicators show a remarkable improvement, while the accelerated growth of GDP has paralleled an increase in savings and investment ratios, a reduction in inflation and the rate of unemployment, and a strengthening of the external position, thus diminishing the vulnerability of the economy in the event of external shocks, which in the past have been a principal source of macroeconomic instability.
KeywordsInterest Rate Monetary Policy Real Exchange Rate Real Wage Real Interest Rate
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