Este trabajo presenta un análisis teórico y empirico de las politicas dirigidas a alcanzar un nivel más depreciado de la tasa de carnbio real. Un modelo de optimización intertemporal sugiere que, en ausencia de cambios en la politica fiscal, un nivel más depreciado de la tasa de carnbio...

The characteristics of recent capital inflows to Latin America are discussed. It is argued that these inflows are partially explained by economic conditions outside the region, like the recession in the United States and lower international interest rates. The importance of external factors...

This paper aimed to offer and introduction to the traditional and newest models about the determinants of financial crises, with special reference to the models developed to emerging markets. These models has been seen mayor evolutions since the first model written by Krugman in 1979 to the most...

The objective of this paper is to identify the factors that influenced the trade deficit of the Dominican Republic for the period 2000-2014. For them, the role of the real exchange rate, private consumption and foreign direct investment are examined using a ordinary least square model (OLS) and...

This paper analyzes the results of some price stabilization programs classified in the literature as Exchange Rate Based Stabilization (ERBS) and Money Based Stabilization (MBS) in connection to their temporary nature for this, a theoretical and analytical framework is developed that allows...

The aim of this article is to examine the existence or not of the "twin deficits" in the case of the Dominican Republic in the period 1955-2014. Using an error correction vector (VEC), the results confirm a positive long run relationships between fiscal and trade balance deficits. Similarly,...

This paper develops a dynamic stochastic general equilibrium model, which is calibrated for the Peruvian economy and can be useful for the design and analysis of monetary policy. The model includes a second currency that replaces partially the domestic currency in its functions of unit of...

En este artículo estudiamos la estimación de un nivel de equilibrio de la cuenta corriente de la balanza de pagos de Colombia y sus posibles implicaciones para el desalineamiento de la tasa de cambio real. Se siguen dos metodologías alternativas para la estimación. Primero, se realiza una...

Este trabajo evalúa los determinantes de las compras de divisas y su impacto sobre la tasa de cambio nominal en Colombia durante 2000-2008. Estimaciones Tobit muestran que el Banco Central compró divisas para compensar las reevaluaciones frente al día anterior y para corregir tendencias...