A partir de mediados de los 80 se aprecia una caída importante en la inflación en las economías industrializadas, proceso que más tarde se extiende a numerosos países en desarrollo. Este proceso se produce en un contexto intelectual donde se aprecia la influencia de ideas como “la...

This paper examines the relationship between the real exchange rate and real wages. It is assumed that the sector that produces non-tradeable goods is labor intensive. This assumption determines an inverse correlation between both variables in equilibrium

During the last decade, a new consensus has emerged among economists with respect to the way in which monetary policy should be conducted. According to this view, monetary policy should be focused in order to achieve a given inflation target. However, the

The purpose of this paper is the discussion of the possibility of designing an efficient and stable financial organization in a given small economy. In particular, an examination is made of the requirements that this solution should fulfill, in order to i