The aim of this paper is to characterize the set of singular economies, when there are a finite set of consumers with infinitely many goods in the sense that goods differ in the time which they are consumed or in the state of the world in which they become available. There exist l available...

In this paper, we’ll offer an overview about the main derivatives financial instruments. We’ll analyze the background and the present of the OTC (Over The Counter) derivative markets, specially swaps (interest rate swaps and currency swaps) and OTC interest rate options (caps, floors,...

In recent years we are observing a process of strengthening of private property rights and an increasing role for contracts in economic relations. The rising importance of the contract in contrast to that of law implies the privatization of power relations, the growing marginality of the...

The effects of macroeconomic policy on poverty in Peru are analyzed in this study. The period of analysis corresponds to 1985/1996. In this period, two very different policies were applied, President Garcias’ populism and President Fujimori’s liberal reforms. Estimates on poverty are based...

The objective of this paper is to analyze the adjustment of the labor market, in the context of mayor changes in labor legislation between 1990 and 1996. We analyze the effects of a reduction in labor turnover costs over the unemployment rate and the unemployment duration. By means of a cross...

This essay is concerned with the performance of Peruvian manufacturing industry and manufacturing trade, during the 1950-1996 period. This period comprehends the years of import substitution industrialization, the long economic stagnation of 1976-1990, and the recent years of trade...

The aim of the document is to analyse the options of expansion that hat manufacture within peasant families of Bambamarca have. This is a part of one objective: the promotion of non-farming rural activities as a strategy to increase poor family’s income. A theoretical model, which allows...

The targeting of public health expenditures in Peru is analyzed in a double way. In the first part, an analysis of the actual distribution of public health expenditures, between social strata and between regions, shows that it this expenditures are distributed inequitably. Users' fees do not...

In this article we have shown that between 1950 and the debt crisis economic fluctuations of Andean countries and of the U. S. A. are positively correlated. The exceptions to the rule are the oil exporting Venezuela and Ecuador during some of the subperiods selected. In general, the correlation...

This paper presents a balance-of-payments crises model –in the line of the “firstgeneration” models– in order to estimate the moment in which the fixed exchange rate collapse occurs. In contrast to the standard literature about balance-of-payments crises –which emphasizes the role of...