The paper estimates that the pass-through coefficient of a devaluation to prices paid by consumers in around 20-25% and has a duration of 6 to 8 months, in general. The economic model underlying the estimate follows an adaptive expectations scheme on the free exchange rate, while the associated...

This paper delves into the asymmetries of the exchange rate pass-through on prices in the case of Venezuela, extending the analysis of Mendoza (2004) the prices of goods and services. The data used is monthly for the period 07/90 -12/04. We find that pass-through in services is less than...

Inlfation targeting is a relatively new way to administer the monetary policy, since the velocity of money revealed unstable and hard pegs unsustainable. The new regime is one of flexible exchange rates, and the target of the monetary policy becomes the rate of inflation itself, instead of any...

In this paper we estimate a structural VAR model to identify the causes of inflation in Ecuador. To examine the VAR dynamics, we use the decomposition of the variance because it provides information about the relative importance of each shock to the variables in the VAR. We differ from previous...

As it also happened in many Latin American countries during the 60s and 70s, inflation became one of the main economic problems in the Brazilian economy. The acceleration of prices and hyperinflation coexisted not only with periods of economic expansion (1956-1979), but also with huge...

The present article establishes an empirical approximation of the causality analysis between inflation and unemployment over the period of 2001 and 2019 for the Colombian economy from the theoretical contributions of Phillips (1957), Phelps (1967), Friedman (1968) and Ball & Mankiw (2002). The...

In the past 30 years, the historiography of colonial Pampean agriculture showed a radical change. The “Bonaerense Campaign”, which was thought extensively devoted to cattle, was recently named one of the most important grain-producing regions of the Spanish Empire. This new hermeneutics of...

Peru has an economy partially "dollarized" where 70% of the liquidity of the bank system has been in US dollars during the last decade. Most of the salaries and goods trading are in "soles" (Peruvian currency) but the companies and people borrow and save in US dollars. This "dollarization"...

Inflation expectations are key unobservable variables for decision-making, especially in managing monetary policy. Understand how to formulate them, if they are rational or adaptive is vital. This study answers these questions through a panel data analysis of the micro data from the inflation...

The Fisher-Seater (1993) methodology is applied to Guatemala data (1950-2002) in order to test for long-run neutrality of money. Real GDP, consumption, investment and public expenditure, and the monetary base and M2a are found to be I(1). Given this order of integration, we applied the Fisher...