This paper uses a core-periphery model for measuring two systemic risk dimensions in the Venezuelan interbank market: connectivity and funding patterns between banks. The period analyzed is particularly interesting because it includes an episode of financial adjustment induced by regulators in...

This paper seeks to understand the changing relationship between the Venezuelan government and PDVSA (the state oil industry) regarding the national oil policy design and formulation. Using a political economy narrative, the analysis is based on the construction of several qualitative indicators...

En este trabajo se analiza el riesgo crediticio de la economía venezolana con base en el enfoque de pasivos contingentes (contingent claim analysis). Esta metodología se orienta a la obtención de indicadores que cuantifican el riesgo de insolvencia de los principales sectores macroeconómicos...

The objective of this paper is to evaluate the short run effects of monetary policy actions during the period April 2002 – January 2004. Narrative indicators are used to characterize monetary policy actions, since they reflect the intentionality of decisions from the information contained in...