This paper presents a stochastic dynamic general equilibrium model calibrated for Venezuela that incorporates inter-sectorial relationships. With this model it is possible to assess the impact on the aggregate economic activity generated by productivity shocks or demand shocks to a specific...

The intention of this research is to solve the statistical difficulty when statistical economic series are spliced. Therefore, this paper discusses the scope of the various methods of splicing in the literature. Also presents an additional method, which considers a process of maximization for...

We try to establish which is the structure that best defines the venezuelan foreign exchange market. Asking ourselves whether there exist a group of agents able to exert market power. We assume that the flow of currency between banks follows a first order stochastic Markov process of first...

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...

Esta investigación presenta una propuesta para medir el indicador de presión del mercado cambiario para el caso de Venezuela, haciendo uso de análisis de componentes principales. Por su parte, se presenta un modelo monetario ampliado con la riqueza del sector no financiero y la dinámica...

Since the seventies the Organization of Petroleum Exporting Countries (OPEC) has exercised a monopolistic power playing a dominant role in the oil market, but with varying degrees of influence. The aim of this investigation is to determine which variables explain changes in OPEC’s market power...