Showing 1 - 10 of 257
Usando los datos anuales para Colombia durante los 30 años pasados, probamos las teorías de oposición que explican fluctuaciones macroeconómicas: la síntesis neoclásica, que postula eso en presencia de rigidez temporal del precio una extensión monetaria inesperada produce los aumentos de...
Persistent link: https://www.econbiz.de/10015215807
The purpose of this research is to study the presence of illegal economy and money laundering processes from a macroeconomic perspective to analyze their economic effects and propose a conceptual framework that identifies its impact in terms of the mechanisms identified. Thus, considering the...
Persistent link: https://www.econbiz.de/10015230855
The stability of money demand has been studied by many economists and for many countries considering the domestic interest rate and income level as determinants of this. However, when the economies begin to open to the world, the question arises how affect external variables as international...
Persistent link: https://www.econbiz.de/10015232522
The paper models the behavior of the Central Bank of Bolivia, through the estimation of reaction functions. According to the monetary program, the central bank implements its policy through the use of monetary aggregates. However, given the crawling peg exchange rate regime, the nominal exchange...
Persistent link: https://www.econbiz.de/10015233280
The purpose of the present document is to analyze the main factors that determine Central Bank foreign reserve accumulation in Costa Rica and to estimate an econometric specification to forecast the foreign reserve stock in a two-year span. The foreign reserves stock represents an important...
Persistent link: https://www.econbiz.de/10015235858
This paper discusses that a lot of the debate on selecting an exchange rate regime misses the time. It begins explaining the standard theory of choice between exchange rate regimes, and then explores the fragilities in this theory, specifically when this is applied to emerging economies. Next...
Persistent link: https://www.econbiz.de/10015263769
The purpose of this paper is to present an extended version of the IS/LM model, with illegal economy and money laundering in a closed economy, which allows an macroeconomic analysis of the effects of this presence on short-term equilibrium. Without disregarding the FATF´s money laundering...
Persistent link: https://www.econbiz.de/10015236735
We describe Hayek's position on taxation and its subsequent developments. Hayek defends the proportional tax system. If a majority rule corrects deviations from political power must also restrict the conditions of progressive taxation. According to Hayek the progressive tax system (SFP) violates...
Persistent link: https://www.econbiz.de/10015243224
This paper analyzes for the period 2000 - 2013 the transmission mechanism of monetary policy in Colombia, focusing on how the Bank of the Republic and its inflation targeting strategy affects through the intervention interest rate, the M2 and the consumer loans to total inflation and therefore...
Persistent link: https://www.econbiz.de/10015250734
We estimate a Financial Conditions Index (FCI) for the Dominican Republic (DR) for the sample 2003 – January 2016 using the principal component analysis methodology and the Hatzius et al. (2010) approach. The estimated FCI captures the periods of financial stress of the Dominican economy in...
Persistent link: https://www.econbiz.de/10015254256