The countries of Sub-Saharan Africa are disproportionately among those receiving the most foreign aid per capita in the world. In this paper we assess the intensity of aid flows to African countries, defined as the size of these flows relative to the categories of economic activity they are...

Ten years of inflation targeting worldwide provide valuable lessons. Inflation targeters (ITers) have been very successful in meeting their inflation targets (ITs). Industrial output sacrifice during inflation stabilization and industrial output volatility has frequently been lowered after IT...

El propósito principal de este trabajo es el de revisar los factores y la dinámica que toma la internacionalización financiera, como también las acciones que debiera tomar un país para prepararse para maximizar los beneficios netos de esta integración. Finalmente, se evalúan también las...

Latin America has been strongly affected by the international crisis and recession since late 2008. In comparison to historical experience, how has Latin America coped with the global crisis, which has been the role of different transmission mechanisms, and how have the region's structural and...

This paper studies the shift in the role of monetary policy in Latin America during the 1990s. As in most industrial economies, in Latin America there has been a refocusing of the objectives pursued by monetary policy towards the achievement of price stab

The recent evolution of the Chilean economy has been conditioned in great part by events that took place in the last five years. This paper reviews these development concentrating in the period 1979-1981. In June 1979, the peso was pegged to the U.S. doll

In this paper we develop a simple general equilibrium model of the current account net of factor services. The model takes explicitly into account the relation between the real exchange rate, the trade balance, output and expenditures. The model is estima

The model that we present in this paper is an attempt to describe the short run equilibrium of a small open economy. The model is an aggregate one with one output and the two assets (money and physical capital). The model is a mix of a monetary and a Keyn