The objective of this study is to estimate the socioeconomic impact of the deployment of last-mile digital infrastructure in Latin America and the Caribbean. To measure the impact of the economic and social aspects of this type of infrastructure, the analysis differentiates according to the...

The objective of this study is to estimate the socioeconomic impact of the deployment of last-mile digital infrastructure in Latin America and the Caribbean. To measure the impact of the economic and social aspects of this type of infrastructure, the analysis differentiates according to the...

The objective of this study is to estimate the socioeconomic impact of the deployment of last-mile digital infrastructure in Latin America and the Caribbean. To measure the impact of the economic and social aspects of this type of infrastructure, the analysis differentiates according to the...

The effects of capital requirements on risk-taking and welfare are studied in a stochastic overlapping generations model of endogenous growth with banking, limited liability, and government guarantees. Capital producers face a choice between a safe technology and a risky (but socially...

After decades using monetary aggregates as the main instrument of monetary policy and having different varieties of crawling peg exchange rate regimes, Colombia adopted a full-fledged inflation-targeting (IT) regime in 1999, with inflation as the nominal anchor, a floating exchange rate, and the...

Inflation targeting has been adopted in a set of emerging economies, including eight countries in Latin America. The success of this regime may depend critically on the credibility of the target and the expectation that the authorities will take appropriate actions if the target is breached....

La presente investigacion desarrolla una metodologa para la estimacion de las especies monetarias en circulacion (EMC) para el caso de una economa dolarizada como la ecuatoriana.Este enfoque se basa en el coeficiente de preferencia por la liquidez (CPL), el cual se define como la cantidad de...

We investigate how the presence of physical bank branches moderates financial technology diffusion. Our identification strategy uses services suspensions caused by criminal groups that perform hit-and-run raids exploding branch facilities and rendering them inoperable for months. We show that...

Our paper addresses the issue on the interaction between monetary and macroprudential policies in small open economies for different exchange rate regimes. The need for macroprudential policy arises from exacerbated macroeconomic fluctuations due to frictions in the financial system as in...

We exploit a hidden Markov model where inflation is determined by government deficits financed through money creation and/or by destabilizing expectations dynamics (expectations can potentially divorce inflation from fundamentals). The baseline model, proposed by Sargent et al. (2009), is used...