En este documento se estima un modelo de cambio de regimen para describir la evolucion de la inflacion durante el periodo 1965-1997. De este modo es posible identificar tanto las diferentes fechas en las que la inflacion cambia de regimen como la probabilidad asignada a cada registro de...

In this paper we present evidence that capital account reversals have become more severe foremerging markets. Because policy options are limited in the midst of a capital market crisisand because so many countries have already had crises recently, we focus on some of thepolicies that could...

In recent years, many countries have suffered severe financial crises, producing a staggering tollon their economies, particularly in emerging markets. One view blames fixed exchange rates--“soft pegs”--for these meltdowns. Adherents to that view advise countries to allow theircurrency to...

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