Macroeconomic fluctuations, Taylors rule, and the dynamics of unemployment and inflation in Puerto Rico

Carlos A. Rodríguez

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dc.creator	Carlos A. Rodríguez
dc.date	2018
dc.date.accessioned	2022-03-17T18:05:12Z
dc.date.available	2022-03-17T18:05:12Z
dc.identifier	http://www.redalyc.org/articulo.oa?id=63158905001
dc.identifier.uri	http://biblioteca-repositorio.clacso.edu.ar/handle/CLACSO/50528
dc.description	Through the structural decomposition developed by Blanchard and Quah (1989), this paper studies the effects of the impulses associated with the Taylors rule of the United States and the supply and demand in Puerto Rico on the dynamics of the unemployment and inflation on the Island. According to the results, in the short run, unemployment responds mostly to the unanticipated shocks of the monetary policy rule in the United States and the supply shocks. Inflation also responds to this rule and the impulses associated with aggregate demand. In the long run, unemployment is declining, and inflation is accelerating mainly in the face of an unanticipated expansion of U.S. monetary policy caused by the establishment of the Taylor rule.
dc.format	application/pdf
dc.language	en
dc.publisher	Centro de Investigaciones Comerciales e Iniciativas Académicas
dc.relation	http://www.redalyc.org/revista.oa?id=631
dc.rights	Forum Empresarial
dc.source	Forum Empresarial (Puerto Rico) Num.2 Vol.23
dc.subject	Administración y Contabilidad
dc.subject	Structural decomposition
dc.subject	inflation
dc.subject	unemployment
dc.subject	Taylor rule
dc.subject	economic fluctuations
dc.subject	regional effects of monetary policy
dc.title	Macroeconomic fluctuations, Taylors rule, and the dynamics of unemployment and inflation in Puerto Rico
dc.type	artículo científico