Showing 1 - 10 of 68
This paper analyzes whether the exchange rate pass-through into prices changed when the inflation targeting scheme was adopted in Peru. First, a simple dynamic stochastic general equilibrium model is simulated, which shows that adopting this scheme induces an increase in exchange rate...
Persistent link: https://www.econbiz.de/10011065343
Persistent link: https://www.econbiz.de/10010142309
We evaluate the second order solution of a general equilibrium model for a small open economy in the line of the "new open economy macroeconomics". We use this framework to explain some recent regularities observed in economies in which central banks move from using a money aggregate as the...
Persistent link: https://www.econbiz.de/10005537427
The most salient feature of financial dollarization, and the one that causes more concern to policymakers, is its persistence: even after successful macroeconomic stabilizations, dollarization ratios often remain high. In this paper we claim that this persistence is connected to the fact that...
Persistent link: https://www.econbiz.de/10005412798
Explican la relación encontrada entre la productividad total de factores y los términos de intercambio en el Perú; así como en otras dos economías emergentes, Chile y México.
Persistent link: https://www.econbiz.de/10011086657
En este documento se utiliza datos trimestrales para identificar la relación entre los términos de intercambio y la productividad total de factores (PTF) para México, Perú y Chile. Se utiliza un enfoque de dos etapas: primero, se estima la senda histórica de la PTF para cada país...
Persistent link: https://www.econbiz.de/10011185436
This paper extends the model of Aoki et al. (2009) considering a two sector small open economy. We study the interaction of borrowing, asset prices, and spillovers between tradable and non-tradable sectors. Our results suggest that when it is difficult to enforce debtors to repay their debt...
Persistent link: https://www.econbiz.de/10010819853
This paper extends the model of Aoki et al. (2009) considering a two sector small open economy. We study the interaction of borrowing, asset prices, and spillovers between tradable and non-tradable sectors. Our results suggest that when it is difficult to enforce debtors to repay their debt...
Persistent link: https://www.econbiz.de/10010900652
In this paper we use quarterly data from Chile, Mexico and Peru to study the link between terms of trade and Total Factor Productivity (TFP). We estimate TFP using a stylized general equilibrium model for a small open economy model with quarterly data. Then, the TFP is decomposed into a domestic...
Persistent link: https://www.econbiz.de/10010886172
In this paper we analyse the effects of informal labour markets on the dynamics of inflation and on the transmission of aggregate demand and supply shocks. In doing so, we incorporate the informal sector in a modified New Keynesian model with labour market frictions as in the...
Persistent link: https://www.econbiz.de/10010849785