This article analyzes the transmission mechanisms of the global crisis on variables that pertain to Cuban monetary policy. The analytical starting point are the results of estimating an econometric model known as a Structural Vector Autoregression (SVAR) model, which serves as the basis for...

The Cuban economy currently operates with two local currencies –the Cuban peso and the convertible peso, both with convertibility problems and multiple and overvalued exchange rates– and has been subject to a banking crisis since 2009. It is a veritable monetary and financial jigsaw puzzle....

Since 2010, the Cuban economy has entered a new period of economic reform, officially labeled as an “update of the economic model.” Cuba undertook a previous reform in the 1990s, but this was halted in the first decade of this century. Now, the new president, Raúl Castro, has insisted that...