Caputo, Rodrigo; Liendo, Felipe; Medina, Juan Pablo - In: Journal Economía Chilena (The Chilean Economy) 9 (2006) 3, pp. 73-95
Knowing the frictions that are present in the economy is a key step towards the efficient design of policy actions. In particular, price and wage rigidities determine the degree of tradeoff between output and inflation stabilization that central banks face. In this context, the main purpose of...