This paper presents an extension of the model proposed by Bernanke and Mihov (1998), which includes financial dollarization, in order to estimate the effects of monetary policy in Peru for the period 1995-2009. The results show that the effects of monetary policy in a dollarized economy are...

The profit-maximizing and oligopoly bank model developed by Bresnahan and Lau allows determining the degree of market power held by an average bank. The equilibrium price equation includes a mark up, which is not used in the case of perfect competition but which is partially used in the case of...

In this paper, we discuss the management of monetary policy of the Latin American central banks that have fully established inflation targeting. An optimal monetary rule is estimated for these economies using the Generalized Method of Moments. This analysis allows us to conclude that these...

Spanish Abstract: En este trabajo, analizamos la gestión de la política monetaria de los bancos centrales (BC) de América Latina que han establecido un esquema pleno de objetivos de inflación. A partir de la estimación de una regla óptima de política monetaria, utilizando el Método...

Spanish Abstract: El documento propone el New Deal Monetario Argentino 2020. Sus objetivos principales son: A- Introducir transitoriamente flujos monetarios para reactivar la economía en el corto plazo (forma V) en lugar de que se prolongue en el largo plazo (forma L). B- Fomentar inversiones...

In this paper, we discuss the management of monetary policy of the Latin American central banks that have fully established inflation targeting. An optimal monetary rule is estimated for these economies using the Generalized Method of Moments. This analysis allows us to conclude that these...

El grado de profundización financiera en Colombia, medido por la relación entre el crédito al sector privado y el PIB, se ubicaba a finales de 2003 por debajo de los niveles que tenía treinta años atrás. Esos niveles son extremadamente bajos en comparación con los de economías...

El trabajo evalúa la hipótesis postkeynesiana del dinero endógeno para Colombia en el período (1982-2009). Para ello presenta los principales planteamientos postkeynesianos que respaldan la importancia del sistema bancario y las decisiones privadas en la determinación de los agregados...

English abstract: Access to financing in fixed-income markets enables firms to diversify their sources of financing and reduces their vulnerability, particularly in periods when access to bank credit is restricted. This paper analyses the factors explaining firms’ recourse to capital market...