This paper analyzes and employs two versions of the Functional Central Limit Theorem within the framework of a unit root with a structural break. Initial attention is focused on the probabilistic structure of the time series to be considered. Later, attention is placed on the asymptotic theory...

The application of different unit root statistics is by now a standard practice in empirical work. Even when it is a practical issue, these statistics have complex nonstandard distributions depending on functionals of certain stochastic processes, and their derivations represent a barrier even...

En este trabajo se analizan los efectos de largo plazo de periodos de crisis de inflación sobre el crecimiento de la Productividad Total de los Factores (PTF) para 18 países de Latinoamérica durante el periodo de 1961 al 2000, utilizando la metodología de estimación de Método Generalizado...

En este trabajo se analizan los efectos de largo plazo de períodos de crisis de inflación sobre el crecimiento de la Productividad Total de los Factores (PTF) para 18 países de Latinoamérica durante el período de 1961 al 2000, utilizando la metodología de estimación de Método...

This paper provides evidence on the Harberger-Laursen-Metzler (HLM) effect for the case of Peru. The HLM effect is the deterioration in the savings level of an economy due to a decline in their terms of trade for a given level of investment. This deterioration is caused by lower revenues which...