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Highly volatile exchange rates don't come cheap in economies with large liability dollarization ratios. Therefore, central banks do not follow a unique objective of price stability but its preferences include an implicit exchange rate objective. This gives us reasons to believe that the Peruvian...
Persistent link: https://www.econbiz.de/10005126281
In the financial crisis literature, it is usually argued that, contrary to the case of currency crises, building a time series index to identify banking crisis episodes is highly difficult, particularly because of the lack of reliable data on banking sector variables (non-performing loans,...
Persistent link: https://www.econbiz.de/10005126447
Persistent link: https://www.econbiz.de/10005062440
During the 1980s, the Peruvian society was deeply affected by two significant events: a) the economic crisis that ended in recession and hyperinflation and, b) the spread of political violence, in particular in Ayacucho, in the central Andean highlands. Taking this into account, the conditions...
Persistent link: https://www.econbiz.de/10005412495
Financial dollarization creates design problems for economic policy as increases the level of financial vulnerability. However, countries with high levels of dollarization have done almost nothing to reduce it. In this paper we study two ways to do it and we evaluate them within a model that...
Persistent link: https://www.econbiz.de/10005412579
Based on the significance of a Minimum Variance Portfolio (MVP) for the understanding of dollarization equilibria, a significant strand of the debate concerned with the driving forces behind this phenomenon has focused on analyzing the determinants of the relative volatility of inflation...
Persistent link: https://www.econbiz.de/10005412746
markets. Using daily price series for the most important agricultural crop in Peru (potato), in 10 cities from 1995 to 2001 …
Persistent link: https://www.econbiz.de/10005556218
In this paper, we examine the prospects for base realignment and closure in Peru and develop an initial strategy for …
Persistent link: https://www.econbiz.de/10005556948
The 2003 Energy review,contains information about the 2003 energy situation of each of our member countries, regional data, as well as economic and social indicators corrected and extended through historical series. It presents and innovative structure for analysis that allows the reader to...
Persistent link: https://www.econbiz.de/10005118923