Using two standard cycle methodologies (classical and deviation cycle) and a comprehensive sample of 83 countries worldwide, including all developing regions, we show that the Latin American and Caribbean cycle exhibits two distinctive features. First, and most important, its expansion...

The Macroeconomics for Development blueprint for Latin America and the Caribbean is articulated around two issues: an active strategy of productive development and a countercyclical policy stance. Macroeconomic countercyclicality refers to the management of the level of aggregate demand to...

This paper analyzes the feasibility, implications and challenges of expanding the current Latin American Reserve Fund (FLAR) to include five other countries: Argentina, Brasil, Chile, México and Paraguay. The paper argues that regional reserve funds should not be conceived as a unique line of...

Using two standard cycle methodologies (Classical and Deviation Cycle) and a comprehensive sample of 83 countries worldwide, including all developing regions, we show that the Latin American and Caribbean (LAC) cycle exhibits two distinctive features. First, and most importantly, its expansion...

Introducción. El objetivo de este trabajo es intentar cuantificar el efecto de un cambio en la actividad económica en la evolución de los precios industriales en Chile. Para ello se estimará un sistema de ecuaciones econométricas que denominaremos "maqueta", por cuanto no se trata de un...

Introducción Los intentos de integración regional en Centroamérica y los objetivos que los han motivado son de larga data. J. Rufino Barrios, presidente de Guatemala a fines del siglo XIX, argumentó a favor de la llamada Unión Centroamericana, utilizando, entre otras, razones similares a...

This paper analyzes Raúl Prebisch's less familiar contributions to economic theory, related to the business cycle, and heavily informed by the Argentinean experience. His views of the cycle emphasize the common nature of the cycle in the center and the Latin American periphery as one unified...

There is a longstanding tradition of analyzing trade and growth in economics, going back to the discipline's founders. But for Latin America, the debate on the significance of this relationship has had much more than academic relevance. It has been one of the central components of the different...

Resumen Luego de los procesos de ajuste de la década de los ochenta, Centroamérica inició una etapa de pacificación regional y liberalización comercial tendiente a integrarla en su esfera geográfica 'natural' (América del Norte). Los esfuerzos de integración extrarregional avanzaron con...

The justification for inflation targeting rests on three core propositions. The first is called ‘lean against the wind,’ which refers to fact that the monetary authority contracts (expands) aggregate demand below capacity when the actual rate of inflation is above (below) target....