Dieser Beitrag analysiert die Faktoren, die den Erdölexporteur Venezuela, der sich durch ein grundsätzlich niedriges Gewaltniveau auszeichnet, zu einem abweichenden Fall innerhalb der Debatte um die erhöhte Gewaltwahrscheinlichkeit in Erdölstaaten machen. Methodisch kommt ein neu...

By definition, fiscal dominance impedes the effective implementation of any monetary strategy aimed at controlling inflation. Economies that exhibit oil dominance-a situation in which oil exports largely affect the main macroeconomic indicators-may also exhibit fiscal dominance. However, in this...

A short-run macroeconomic model is estimated for Venezuela, in order to examine the hypothesis that the availability of oil resources may entail a confidence effect—on perceived future incomes—that influences the expenditure and portfolio behavior of economic agents. Such confidence effect...