One of the commonly used estimates of expected inflation is the yield differential between nominal bonds and inflation-indexed bonds (breakeven inflation). Breakeven inflation is however a biased estimate of expected inflation because it includes an inflation risk premium (IRP). The novelty of...

Banking credit to the private sector in Latin America has on average increased by 7 percent of GDP from primo 2004 to ultimo 2011, with real credit in some countries growing by up to 20 percent per year. This paper documents and analyzes the patterns of credit growth in 18 countries in Latin...

El crédito bancario al sector privado como porcentaje del PBI ha crecido 9 por ciento en América Latina entre 2004 y 2011. En términos reales, el crédito ha crecido incluso más de 20 por ciento en algunos países. Este trabajo analiza los patrones de dicho crecimiento en 18 países de la...