Three alternative specifications of an investment equation have been tested using panel data of Uruguayan firms: a traditional accelerator model of investment, an error-correction version of the accelerator model and an Euler equation for the capital stock. These models of investment were used...

Three alternative specifications of an investment equation have been tested using panel data of Uruguayan firms: a traditional accelerator model of investment, an error-correction version of the accelerator model and an Euler equation for the capital stock. These models of investment were used...

Three alternative specifications of an investment equation have been tested using panel data of Uruguayan firms: a traditional accelerator model of investment, an error-correction version of the accelerator model and an Euler equation for the capital stock. These models of investment were used...

Using a unique dataset with information on the currency composition of firms'' assets and liabilities in six Latin-American countries, I investigate how the choice of exchange rate regime affects firms'' foreign currency borrowing decisions and the associated currency mismatches in their balance...

Policymakers in many emerging markets are attempting to resist currency appreciation while simultaneously meeting targets for inflation. Using the recent experience of Colombia between 2004 and 2007, this paper examines the effectiveness of the Central Bank''s intervention in stemming domestic...

La evolución macroeconómica uruguaya en los últimos quince años ha sido satisfactoria, tomando como referencia el desempeño que había caracterizado a este país desde mediados de los cincuenta. El crecimiento económico ha sido sostenido desde que Uruguay salió de la crisis cambiaria y...

In this paper we use micro-data from income and expenditure surveys for seven Latin American countries. We estimate Engel equations and present stylized facts regarding cultural spending. Culture activities are a key indicator of a society development and therefore cultural spending decisions...