This paper develops comparable financial conditions indices (FCIs) for the six large and most financially-integrated Latin American economies (LA6) by following Korobilis (2013) and Koop and Korobilis (2014). The main findings are as follows. First, the estimated FCIs are influenced by a...

This paper develops comparable financial conditions indices (FCIs) for the six large and most financially-integrated Latin American economies (LA6) by following Korobilis (2013) and Koop and Korobilis (2014). The main findings are as follows. First, the estimated FCIs are influenced by a...

Conventional wisdom about the business cycle in Latin America assumes that monetary shocks cause deviations from the optimal path, and that the triggering factor in the cycle is excess credit and liquidity. Further, in this view the origin of the contraction is ultimately related to the excesses...

This study aims to develop an ecological stock-flow consistent (SFC) model based on the Latin American-stylized facts regarding economic, financial, and environmental features. We combine the macro-financial theoretical framework by Pérez-Caldentey et al. (2021, 2023) and the ecological...

Este trabajo tiene dos objetivos. El primero intenta explicar cómo la crisis de un sector relativamente pequeño (el mercado estadounidense de préstamos hipotecarios subprime) ha tenido un efecto sistémico en la economía mundial. La combinación de prácticas de financiamiento fuera del...

Latin America has created some of the most innovative and novel responses to the problem facing many developing countries—namely that of high costs and risks associated with foreign exchange transactions, and the need to promote more regional trade and integration in the face of external...