This paper discusses the dynamics of relative prices since 1985 comparing the performance during the inflationary accelerations and disinflations, both orthodox and heterodox. It is postulated that in 1988 there was a «change of regime, (is a regime of high inflation and not hyperinflation) and...

This paper analyze the peruvian economy evolution since 1970 to 1993, testing the mainly growth constraint, using different alternatives of estimation with a “three gap” model. The results show that they have not been, the fiscal gap neither the saving gap, that have limitated the growth....

Peru faces an increasing desequilibrium in its trade balance on the nineties, in spite of an expansion on its exports´ value. In part these deficits are presented with our commercial partners of the Andean Community and Mercosur. This paper presents a disaggregated analysis of the Peruvian...

This paper identify the external constraint like a structural problem, and in the first part we make a book review about some authors who had fundamented this posture. We analyze the principal macroeconomic indicators in the last 23 years and we apply a three gap-model that, because its...

This paper presents the main characteristics and achievements of the Argentinian Convertibility Plan, so as its potential risks. Comparative analysis with Peruvian experience are taken based on the central issues of discussion in our economy. It is tried to show that following different...

This paper shows that there is an important dispersion in relative prices in the Peruvian economy instead of deflation, and we present an explanatory model about that dynamics. One of the most important implications is that the exchange rate has a crucial importance in the explanation of...