Carlos Medel Central Bank of Chile and Pontifical Catholic University of Chile   ,   CNMedel@UC.cl     Biographical Sketch: Carlos A. Medel is a Senior Economist in the Macroeconomic Analysis Area at the Central Bank of Chile. He has previously served in the Economic Research, Financial Stability, and International Affairs areas, and as Economic Adviser to the Governor of the Central Bank. His research interests include applied macroeconometrics and time series econometrics. He has published over twenty articles in journals such as Applied Economics Letters, Czech Journal of Economics and Finance, International Economic Journal, International Finance, Journal of Business Cycle Research, and several Latin American journals. He is currently a graduate student at the Pontifical Catholic University of Chile and holds an MSc in Economics and Econometrics from the University of Nottingham (UK), as well as an MA and BA in Economics from the Pontifical Catholic University of Chile.   Primary Research Focus: Applied Macroeconometrics and Time Series Econometrics   JEL Areas: E4 : Money and Interest Rates: General E5 : Monetary Policy, Central Banking, and the Supply of Money and Credit: General