Spanish Abstract: En el Ecuador al igual que en la mayoría de países de Latinoamérica la concentración del ingreso y la riqueza es un fenómeno recurrente que frecuentemente ha venido acompañado de medidas de política económica orientadas a favorecer a determinados grupos minoritarios que...

The main objective is to identify the long-run determinants of the demand for money in Venezuela. A dynamic estimation is made, using monthly data spanning the period 1986-2007. Not knowing a priori which variables are endogenous or exogenous allow us to assume a vector autoregression (VAR)...

The objective of this paper is to analyse the quasi-fiscal deficit of the Central Bank of the Dominican Republic, seeing the importance of certificate placements and the accumulation of international reserves on the quasi-fiscal deficit and the implications of said deficit for economic policy....

In this paper, we discuss the management of monetary policy of the Latin American central banks that have fully established inflation targeting. An optimal monetary rule is estimated for these economies using the Generalized Method of Moments. This analysis allows us to conclude that these...

El trabajo evalúa la hipótesis postkeynesiana del dinero endógeno para Colombia en el período (1982-2009). Para ello presenta los principales planteamientos postkeynesianos que respaldan la importancia del sistema bancario y las decisiones privadas en la determinación de los agregados...

El grado de profundización financiera en Colombia, medido por la relación entre el crédito al sector privado y el PIB, se ubicaba a finales de 2003 por debajo de los niveles que tenía treinta años atrás. Esos niveles son extremadamente bajos en comparación con los de economías...

In 1999 the Colombian Constitutional Court ruled that annual minimum wage increases should not be lower than the inflation of the previous year. This article explores the impact of this decision on the effectiveness of monetary policy, and shows that the obligation to adjust the salary to past...

This paper presents an extension of the model proposed by Bernanke and Mihov (1998), which includes financial dollarization, in order to estimate the effects of monetary policy in Peru for the period 1995-2009. The results show that the effects of monetary policy in a dollarized economy are...

Debido a que Bolivia es una economía bimonetaria, es muy importante contar con una estimación del circulante en dólares. El documento expone la evolución del dinero en un contexto de dolarización financiera y presenta estimaciones del circulante en moneda extranjera con base a modelos...

English abstract: Access to financing in fixed-income markets enables firms to diversify their sources of financing and reduces their vulnerability, particularly in periods when access to bank credit is restricted. This paper analyses the factors explaining firms’ recourse to capital market...