The General Error Distribution (GED) has been extensively used in time series econometrics applications, due to its great flexibility in the estimation of financial stylized facts. However, there has been no attempt to employ this statistical distribution in the construction of copulas. Copulas...

This paper carries out an analysis of the most common structured notes traded in financial markets. A detailed description of such financial instruments emphasizing their particular characteristics and technical difficulties in the valuation process is provided. Due to the fact that most of the...

The macroeconomic experiences of five South American nations —Argentina, Brazil, Chile, Colombia and Peru— are examined since the 1990s. Common features in reforms and macroeconomic policies as well as common cyclical breaking points are stressed, which overcome some relevant differences...

One of the legacies of the financial crisis in the United States and Europe is the adoption of macroprudential policies in an increasing number of countries, including in Latin America. These policies aim to prevent future financial crises through the adoption of far-reaching reforms that...