We analyse the dynamic behaviour of an economy where the central bank (CB) sets interest rates according to a Taylor-type policy rule. A simple model for a closed and instability-prone economy is constructed and subjected to formal dynamical analysis and numerical simulation. It is shown that a...

Insertando las remesas en un modelo keynesiano, analizamos su impacto sobre la demanda agregada y la renta de equilibrio, demostrando que la composición de esta varía porque se produce un aumento del consumo y una contracción del sector exterior, y que su valor total se reduce por el valor de...

Remittances can have a contractive net impact on the recipient economy. In this case the effect of the sterilized intervention of the central bank in the foreign exchange market and/or the impact of stimulus policies on the autonomous demand prevent the contraction of GNP and foments the desired...

The paper analyses the dynamic behaviour of an economy when the central bank (CB) implements an inflation targeting regime. For this purpose, a simple macroeconomic model is constructed and subjected to formal dynamic analysis. A first result is that, under certain conditions, the emergence of...

In this article we will show that independence is not enough to impose a given inflation target when the Central Bank is following a Taylor rule, moreover in such a case, the fiscal authority will be able to set a different objective from the one sought by the monetary authority. On the other...

Se analiza la política monetaria del Banco Central Europeo y su incidencia en las políticas de los países socios.

Spanish Abstract: Desde la expropiación petrolera, y durante varias décadas, Petróleos Mexicanos (PEMEX) venía soportando el despegue del sector industrial. Así, a partir de los años 70 ha cumplido principalmente con dos funciones: generar divisa y contribuir en la financiación del gasto...