Uruguay has recently reverted to a money targeting (MT) framework in the context of a disinflation strategy. We develop …

Uruguay enjoys favorable social outcomes, and its labor indicators are comparable to other Latin American countries …

-sector debt. The analysis is based on emerging market (EM) countries and illustrated by the experience of Uruguay, using data as …

behavior of depositors vis-à-vis foreign banks. We rely on data from the banking crises in Argentina and Uruguay over the … during bank runs?; (ii) does their legal structure (branch versus subsidiary) matter?; (iii) do perceptions depend on the … crises, we do not find robust evidence in this regard. Only in one (large) bank run episode, out of five studied, there is …

This paper assesses the merits of countercyclical loan loss provisioning in Uruguay. Using a stress test methodology …

This paper examines the role played by regional factors in Uruguay, identifies the sources and transmission mechanisms … of shocks stemming from the region, and assesses how vulnerable Uruguay is to a potential crisis in the region. Using a … financial linkages between Uruguay and Argentina, which also explain the very high correlation between their business cycles …

bank deposits into the analysis of the optimal level of foreign reserves for prudential purposes. In the extended model, a … are costly to carry. The resulting expression for the optimal level of reserves is calibrated for Uruguay, a country with … high dollarization of bank deposits. The baseline calibration indicates that the gap between actual and optimal reserves …

This paper studies how Uruguay''s regulatory framework was gradually strengthened to address shortcomings identified … resulting in an acceleration of bank lending. In particular, regulatory reforms pertaining to loan classification and … prudential regulation in Uruguay now generally conforms to high standards while also embracing innovative elements such as …