Current Account and External Financing [PDF]
This article summarizes the most salient aspects of papers presented at the Central Bank of Chile’s Tenth Annual Conference “Current Account and External Financing” held in November 2006 and soon to be edited into an upcoming book.
Kevin Cowan L. +2 more
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Re-examining the role of financial constraints in business cycles: Is something wrong with the credit multiplier? [PDF]
, 2013 Motivated by the apparent failure of the credit multiplier mechanism (CM) to deliver amplification in DSGE models, we re-examine its role in business cycles to address the question: is something wrong with the CM? Our answer is no.
Olivella, Virginia +1 more
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Desempleo y salarios rígidos : un modelo DSGE para el caso colombiano
, 2019 Economista
Bernal Gaviria, María José +1 more
openaire +1 more source
¿Es conveniente una autoridad monetaria “blanda”? [PDF]
, 2017 Teniendo como marco de referencia la “estrategia de inflación objetivo” es usual discutir lo que es m ́as conveniente para una sociedad en cuanto al grado de “dureza” o “agresividad” de una autoridad monetaria para defender su meta de inflación, y la ...
Posada, Carlos E., Villca, Alfredo
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An Estimated Stochastic General Equilibrium Model with Partial Dollarization: A Bayesian Approach [PDF]
This paper develops and estimates a dynamic stochastic general equilibrium New Keynesian model of a small open economy with partial dollarization. We use Bayesian techniques and Peruvian data to evaluate two forms of dollarization: currency substitution (
Carlos Montoro +2 more
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Fluctuation Dynamics in US Interest Rates and the Role of Monetary Policy [PDF]
This paper presents empirical evidence suggesting that the degree of long-range dependence in interest rates depends on the conduct of monetary policy. We study the term structure of interest rates for the US and find evidence that global Hurst exponents
Benjamin M. Tabak +1 more
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El efecto riqueza de la vivienda en Colombia [PDF]
Este documento analiza la riqueza en vivienda como un canal de trasmisión de la política monetaria en Colombia, a partir de la evidencia de un modelo de Equilibrio general dinámico y estocástico calibrado para la economía colombiana.
Andrés Salamanca Lugo +1 more
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La crisis actual y la culpabilidad de la teoría macroeconómica [PDF]
The ideas of modern macroeconomics provided the intellectual justification of the economic policies of the last 10 to 15 years. It is these ideas which the financial crisis falsified.
Paul Ormerod
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Do Inflation-linked Bonds Contain Information about Future Inflation? [PDF]
There is a widespread belief that inflation-linked bonds are a direct source of information about inflation expectations. In this paper we address this issue by analyzing the relationship between break-even inflation (the difference between nominal and ...
José Valentim Machado Vicente +1 more
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Modelo de equilibrio parcial del sector minero para una economía pequeña y abierta como la peruana [PDF]
, 2016 La minería juega un papel importante en la economía y hasta el momento no se ha desarrollado un modelo que busque identificar cómo los shocks que la afectan impactan en toda la economía.
Casas, Carlos +1 more
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