In recent years, Bolivia has accumulated a significant level of international reserves due to favorable external environment and the exchange rate regimen (crawling peg). In this context arises the question of: Which one is the optimal level of international reserves? According to the...

The aim of this paper is to identify the different shocks that could affect the current account in the argentine case, such as the terms of trade (the Harberger-Laursen-Metzler effect-HLM), supply shocks (productivity), demand shocks (real exchange rate and public consumption /current GDP) and...

The aim of this paper is to identify the different shocks that could affect the current account in the argentine case, such as the terms of trade (the Harberger-Laursen-Metzler effect- HLM), supply shocks (productivity), demand shocks (real exchange rate and public consumption /current GDP) and...

The purpose of this paper is to contrast the Keynesian partial equilibrium framework of the Current Account with the modern intertemporal general equilibrium approach where the Current Account imbalances reflect, and act as a buffer, against both real and monetary shocks. The document will try...

Monet maat ovat 1990-luvun alun jälkeen luopuneet kiinteän mutta ajoittain muutettavan valuuttakurssin järjestelmästä.Tässä työssä arvioidaan, miten Aasian tapahtumien jälkeen kehitellyt niin kutsutut kolmannen sukupolven valuuttakriisimallit selittävät Aasian kriisiä.Lisäksi...

Spanish abstract: Este artículo presenta un modelo de economía pequeña y abierta para estudiar la importancia de los choques a la tasa de interés real en México. La tasa de interés se descompone en dos términos: la tasa de interés internacional y la prima de riesgo país. Las...

The purpose of this paper is to contrast the Keynesian partial equilibrium framework of the Current Account with the modern intertemporal general equilibrium approach where the Current Account imbalances reflect, and act as a buffer, against both real and monetary shocks. The document will try...

The aim of this paper is to identify the different shocks that could affect the current account in the argentine case, such as the terms of trade (the Harberger-Laursen-Metzler effect-HLM), supply shocks (productivity), demand shocks (real exchange rate and public consumption /current GDP) and...