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Monetary Rules for Emerging Market Economies
Rebucci, Alessandro - Econometric Society - 2004
the role of fluctuations in premia in the propagation of other shocks. We calibrate our model on Argentina. The framework … matches the second moments of several key variables reasonably well. Welfare analysis suggests that dollarization is …. However, a currency board can match dollarization on welfare grounds if the central bank holds a sufficiently large stock of …
Persistent link: https://www.econbiz.de/10005702646
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Alternative Monetary Rules for a Small Open Economy: The Case of Canada
Ghironi, Fabio - Department of Economics, Boston College - 2000
. Different rules generate different paths for the markup and the terms of trade. A comparison of welfare levels suggests that …
Persistent link: https://www.econbiz.de/10005027858
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How Does Monetary Transmission Mechanism Impact Output, Inflation and Money Market Funds in Argentine?
Ledesma Padilla, Juan - 2010
The paper is aimed at quantifying empirically the monetary transmission mechanism for Argentine, and at analyzing the responses of output, inflation, and money market mutual funds (MMMF) to a positive monetary shock. The idea of incorporating MMMF into the system is to understand how economic...
Persistent link: https://www.econbiz.de/10013147766
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Policy mix in a small open emerging economy with commodity prices
André, Marine C.; Armijo, Alberto; Espidio, Sebastián … - In: Latin American journal of central banking : LAJCB 4 (2023) 1, pp. 1-19
The article analyzes the interaction between monetary and fiscal policy in Mexico. We calibrated a semi-structural model for a small open economy, based on Aguilar and Ramírez-Bulos (2018), for Mexico by using quarterly data from 2001Q1 to 2019Q4. The fiscal policy block models the fiscal...
Persistent link: https://www.econbiz.de/10014382792
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Fear of floating or monetary policy as usual? A structural analysis of Mexico's monetary policy
Best, Gabriela - In: The North American Journal of Economics and Finance 24 (2013) C, pp. 45-62
This paper uses Bayesian methods to estimate a small open economy dynamic stochastic general equilibrium (DSGE) model for the period in Mexico after the 1994 crisis. I consider a Taylor rule as the expression of the evolution of monetary policy to gauge its response to the exchange rate in the...
Persistent link: https://www.econbiz.de/10010617243
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Argentina's "missing capital" puzzle and limited commitment constraints
Kapička, Marek; Kydland, Finn E.; Zarazaga, Carlos Enrique - 2018
Capital accumulation in Argentina was slow in the 1990s, despite high total factor productivity (TFP) growth and low … grounds that previous historical developments had led them to perceive Argentina as a country prone to external debt … environment can magnify the asymmetry. A quantitative implementation of the model economy to data from Argentina accounts, in line …
Persistent link: https://www.econbiz.de/10012030046
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On the dynamics of lending and deposit interest rates in emerging markets: a non-linear approach
Iregui, Ana María; Milas, Costas; Otero, Jesús - UNIVERSIDAD DEL ROSARIO - 2001
This paper studies the dynamics of lending and deposit rates in four emerging markets in Latin America: Argentina … Latinoamérica: Argentina, Chile, Colombia y México. La dinámica de las tasas de interés muestra un comportamiento de cambio de …
Persistent link: https://www.econbiz.de/10005769449
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The Argentine Success Story and its Implications
Weisbrot, Mark; Ray, Rebecca; Montecino, Juan; Kozameh, Sara - Center for Economic and Policy Research (CEPR) - 2011
The Argentine economy has grown 94 percent for the years 2002-2011, using International Monetary Fund projections for the end of this year. This is the fastest growth in the Western Hemisphere for this period, and among the highest growth rates in the world. It also compares favorably to...
Persistent link: https://www.econbiz.de/10009359466
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The limits to dollarization in Ecuador : lessons from Argentina
Bradbury, Mathew (contributor);  … - 2008
The paper sheds light on the apparent success of dollarization in Ecuador. The experience of Argentina with … sustainability of the currency remains the source of external funds. Whereas in Argentina the IMF and international capital flows …
Persistent link: https://www.econbiz.de/10003766392
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Fiscal Policy and Macroeconomic Imbalances
Baldacci, Emanuele; Gupta, Sanjeev; Mulas-Granados, Carlos - Banca d'Italia - 2014
The volume collects the essays presented at the 15th Workshop on Public Finance organised by Banca d'Italia in Perugia from 4 to 6 April 2013. The workshop focused on the link between fiscal policy and macroeconomic imbalances and comprised four sessions. The first session concentrated on the...
Persistent link: https://www.econbiz.de/10011277938