This paper analyses the monetary consequences of the Latin American trade integration process. We consider a sample of five countries - Argentina, Brazil, Chile, Mexico and Uruguay - spanning the period 1991-2007. The main question raised pertains to the feasibility of a Monetary Union between...

Monetary integration in Mercosur processed in a context of strong macroeconomic volatility. This paper analyzes the feasibility of a monetary union within this zone. Instead of taking into account all the criteria of the optimal currencies areas, this study focuses on the macroeconomic cycles in...

This paper studies the feasibility of a monetary union in Mercosur. A semi-structural VAR model is estimated for each country, including a set of international and domestic variables. The structural innovations generated by each country model are broken down into unobservable common and...

This paper describes the multisectoral macroeconomic model of a small developing economy in transition, in order to highlight linkages between agriculture and the rest of the economy, and consequences of external opening up. Agriculture is a supply sector, sticky in the short range with market...

This paper presents a quarterly macro econometric model of the Kazakhstan. The main goal is to provide a stylized representation of the Kazakh economy in order to simulate the consequences of several economic policies viewed by the authorities as essential during the period of transition to a...

This paper presents a quarterly macro econometric model of Kazakhstan. The main goal is to provide a stylized representation of the Kazakh economy in order to simulate the consequences of several economic policies viewed by the authorities as essential during the period of transition to a market...

The public housing sector provides housing units at below-market rents, potentially allowing its tenants to save for a downpayment more quickly than they would have otherwise. In this paper, we analyze the e-ffect of a spell in public housing on age at first-time homeownership using the French...

Élu en octobre 2002 malgré les inquiétudes qu’il suscitait auprès des milieux d’affaires et la crise financière qui s’en est suivie, le Président Lula da Silva a prouvé sa capacité à poursuivre la politique d’ajustement « orthodoxe » engagée depuis 1999 par son prédécesseur...