Emerging economies were largely affected because of FED's quantitative easing (QE) policies. This paper assesses the impact of these measures in terms of key macroeconomic variables for a small open economy (SOE) such as Peru. We identify QE policy shocks in a SVAR with Block Exogeneity (Zha,...

Emerging economies have been largely affected by the Fed's quantitative easing (QE) policies. This paper assesses the impact of these measures in terms of key macroeconomic variables for four small open economies in Latin America: Chile, Colombia, Mexico and Peru. We identify a QE policy shock...

The Great Moderation is characterized for being a stable period in terms of macroeconomic conditions, specially in inflation. In terms of the sticky information theory, this environment may provide few incentives for agents to update information on inflation and then a new slope of the sticky...

One of the most important structural relationships for policy makers is the Phillips curve; thus, this topic is the focus of ongoing theoretical and empirical research. We estimate the degree of information stickiness implied by the sticky information Phillips curve proposed by Mankiw and Reis...

Threshold estimation methods are developed for dynamic panels with individual fixed specific effects covering short time periods. Maximum likelihood estimation of the threshold and the slope parameters is proposed using first difference transformations. Threshold estimate is shown to be...

In this paper we estimate total factor productivity (TFP) growth for the Peruvian economy using the primal and dual methods for the period 2003-2012. According to the primal method, a procedure that uses the Solow residual as an indicator of productivity, TFP grew at an average annual rate of...

In this paper we estimate total factor productivity (TFP) growth for the Peruvian economy using the primal and dual methods for the period 2003-2012. According to the primal method, a procedure that uses the Solow residual as an indicator of productivity, TFP grew at an average annual rate of...

En el presente artículo se desarrolla una metodología en tiempo discreto para comparar esquemas de cobro de comisiones por saldo y flujo (sueldo) en la fase de acumulación de un fondo de pensiones bajo capitalización individual. Asimismo, a través de distintos métodos, se estudia el efecto...

In this paper we report international evidence on the relationship between corruption and several development indicators such as economic stability, quality in educational expenditures, fiscal income, inequality, investment and economic growth. We first show how this relationship is negative by...

En este trabajo se mide el efecto de la Concentración Bancaria sobre el margen de las tasas de interés en el sistema bancario peruano durante el periodo 1995 - 2004, mediante un modelo de datos de panel lineales no balanceado, considerando los problemas de autocorrelación (Baltagi y Wu 1999),...