zwischen Brasilien und den USA. Die Ergebnisse bestätigen dabei sowohl die Modelle als auch den empirischen Befund: Bei …

This paper examines if dollarization has had a positive impact on the macroeconomic stability of Latin American …. Currently four Latin American countries are officially dollarized and the rest experience varying levels of unofficial … dollarization. Data from the World Bank World Development Indicators for 21 Latin American countries from 1960 to 2003 are analyzed …

liquidity shock leads to a sharp decrease in long-term rates and term spreads. Such interventions have signifi cant impact on … long-term investment, decreasing the amplitude of output responses after a liquidity shock. The short-term rate does not … disminuir y los diferenciales se mantienen altos. En segundo lugar, mostramos que, después de un shock de liquidez, la compra de …