This paper develops a dynamic stochastic general equilibrium model, which is calibrated for the Peruvian economy and can be useful for the design and analysis of monetary policy. The model includes a second currency that replaces partially the domestic currency in its functions of unit of...

En este artículo estudiamos la estimación de un nivel de equilibrio de la cuenta corriente de la balanza de pagos de Colombia y sus posibles implicaciones para el desalineamiento de la tasa de cambio real. Se siguen dos metodologías alternativas para la estimación. Primero, se realiza una...

In recent years, Bolivia has accumulated a significant level of international reserves due to favorable external environment and the exchange rate regimen (crawling peg). In this context arises the question of: Which one is the optimal level of international reserves? According to the...

In recent years, Bolivia has accumulated a significant level of international reserves due to favorable external environment and the exchange rate regimen (crawling peg). In this context arises the question of: Which one is the optimal level of international reserves? According to the...

En los últimos años, Bolivia ha acumulado un nivel importante de reservas internacionales, debido a la favorable coyuntura externa y al régimen cambiario vigente (crawling peg). En ese contexto nace la interrogante de cuál es el nivel óptimo de reservas internacionales. <p>Según los...</p>

This paper aims to analyse the underlying factors of varied behaviour shown in the store set of purchase of households during a time period (temporal variation). In order to examine whether there are differences between households with and without shopping varied behaviour, a Bayesian Separate...

The aim of this paper is to identify the different shocks that could affect the current account in the argentine case, such as the terms of trade (the Harberger-Laursen-Metzler effect-HLM), supply shocks (productivity), demand shocks (real exchange rate and public consumption /current GDP) and...

The aim of this paper is to identify the different shocks that could affect the current account in the argentine case, such as the terms of trade (the Harberger-Laursen-Metzler effect- HLM), supply shocks (productivity), demand shocks (real exchange rate and public consumption /current GDP) and...

The purpose of this paper is to contrast the Keynesian partial equilibrium framework of the Current Account with the modern intertemporal general equilibrium approach where the Current Account imbalances reflect, and act as a buffer, against both real and monetary shocks. The document will try...