La política monetaria ante la crisis
Fecha
2009-12-30
Autores
Rodríguez Garro, Fernando
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Editor
Editorial Universidad Nacional
Resumen
La actuación del Banco Central frente a la crisis ha sido objeto de críticas constantes por
distintos sectores del país, pues su accionar se considera pobre e inclusive equivocado. Los
problemas de la gestión de la política monetaria no son recientes, iniciaron en el 2006 con la
implementación del sistema de bandas cambiarias. El sistema como tal no tiene fallas, sin
embargo, las autoridades han cometido errores importantes en su aplicación que dificultan
adoptar medidas anticrisis en el presente.
Una política monetaria procíclica es quizás el principal problema que enfrenta el Banco Central,
que en la actualidad afronta una fuerte contracción de la economía costarricense y no ha creado
las condiciones para aplicar medidas paliativas. Adicionalmente, el Banco aún no reconoce la
contradicción de sus medidas y pronto deberá enfrentarse a una disminución de las tasas de
interés y un ajuste del tipo de cambio.
The Central Bank's performance against the crisis has been the subject of critics by different economic sectors, because its performance is considered poor or even wrong. The problems of management of monetary policy are not recent, initiated in 2006 with the reform of foreign exchange policy. The system itself has no faults, but the authorities have made mistakes in its implementation that difficult the anticrisis action. A procyclical monetary policy is perhaps the biggest problem facing the Central Bank, which now faces a sharp contraction in the Costa Rican economy and has created the conditions for implementing mitigation measures. Additionally, the Bank still does not recognize the contradiction in their policies, and must soon face a reduction in interest rates and exchange rate adjustment.
The Central Bank's performance against the crisis has been the subject of critics by different economic sectors, because its performance is considered poor or even wrong. The problems of management of monetary policy are not recent, initiated in 2006 with the reform of foreign exchange policy. The system itself has no faults, but the authorities have made mistakes in its implementation that difficult the anticrisis action. A procyclical monetary policy is perhaps the biggest problem facing the Central Bank, which now faces a sharp contraction in the Costa Rican economy and has created the conditions for implementing mitigation measures. Additionally, the Bank still does not recognize the contradiction in their policies, and must soon face a reduction in interest rates and exchange rate adjustment.
Descripción
Palabras clave
POLÍTICA MONETARIA, CRISIS, MONEDA, MONETARY POLITICS, COIN