Showing 1 - 10 of 476
We built a real business cycle model with inside money and passive monetary policy that shows some interesting features regarding interest rate dynamics and credit market behavior. We find that the model is stable, a feature that was difficult to find in the literature on passive money. We think...
Persistent link: https://www.econbiz.de/10015243254
We estimate the Non-Accelerating Inflation Rate of Unemployment (NAIRU) for Mexico (2002Q1-2018Q2) with Ball and Mankiw's (2002) methodology using the Generalized Method of Moments. We prove that, with this methodology, the calculation of NAIRU is more efficient than the one calculated with the...
Persistent link: https://www.econbiz.de/10012217599
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...
Persistent link: https://www.econbiz.de/10009368512
We estimate the Non-Accelerating Inflation Rate of Unemployment (NAIRU) for Mexico (2002Q1-2018Q2) with Ball and Mankiw's (2002) methodology using the Generalized Method of Moments. We prove that, with this methodology, the calculation of NAIRU is more efficient than the one calculated with the...
Persistent link: https://www.econbiz.de/10012016721
This paper evaluates optimal monetary policy in a new Keynesian model for an open economy with financial frictions. In the model, aggregate demand is made up of the weighted average of the short and long-term interest rates. A comprehensive set of monetary policy rules is established, all...
Persistent link: https://www.econbiz.de/10015212232
The great moderation lulled macroeconomists and policymakers alike in the belief that we knew how to conduct macroeconomic policy. The crisis clearly forces to question that assessment. This paper reviews the main elements of the pre-crisis consensus, identify where we were wrong and what tenets...
Persistent link: https://www.econbiz.de/10008539915
Spanish Abstract: En esta nota se consideran los riesgos ante las variaciones del tipo de cambio que enfrentan las instituciones financieras en el contexto de una economía dolarizada, con referencias específicas al caso venezolano
Persistent link: https://www.econbiz.de/10013211408
Spanish Abstract: Tras casi seis años con los tipos de intervención situados en niveles cercanos a cero y con numerosos estímulos no convencionales todavía en vigor, en 2014 ya se percibe la proximidad de la normalización monetaria en las economías en las que, como en Estados Unidos y el...
Persistent link: https://www.econbiz.de/10013047199
In this paper we calculate the Keynesian multipliers of income, employment, imports and exports of the Peruvian economy for 101 economic activities based on information from the 2007 input-output table, taking into account the distinction between domestic origin and external of the goods and...
Persistent link: https://www.econbiz.de/10015263748
In this paper we calculate the Keynesian multipliers of income (value added), employment, imports and net exports for 101 economic activities of the Peruvian economy based on information from the 2007 input-output table. Our analysis considers the distinction between domestic and foreign origin...
Persistent link: https://www.econbiz.de/10015264111