We provide evidence on the significant effect of religiosity (measured by attendance to religious services) on reducing depression. In particular, it is found a significant negative effect of religiosity on the probability of being depressed. Findings of previous studies are extended by showing...

This paper estimates the output gap and the potential output for the Uruguayan economy between years 1975 and 2011. These two variables are crucial in different areas of economic policy, and of particular relevance to monetary policy. A positive output gap is one of the main indicators of the...

This document presents a set of indicators designed to measure the credit risk implicit in the deposits maintained by domestic financial institutions in foreign countries. It discusses the theoretical definition of the indicators, the software implementation and a case of study based on the...

Building upon an original and fruitful research line, a recent paper by Hidalgo and Hausmann (2009) proposed new indicators of product sophistication and economic complexity build solely upon international trade data, in their Method of Re?ections. The authors ?nd their indicators for economic...

The aim of this paper is to study empirical evidence supporting the hypothesis that discretionary fiscal policy is asymmetric over the business cycle in Uruguay. We estimate fiscal reaction functions covering annual data from 1970 through 2009, in which the dynamics of fiscal balance is due to...

We propose a model whereby systemic and non-systemic banks are exposed to liquidity shortfalls such that a lender of last resort policy is required. We analyze the optimal allocation of lender of last resort responsibilities and find that it is socially optimal to move responsibilities from the...

This paper analyzes the impact of prenatal care on low birth weight and pre-term births using panel data on births that took place between 1995 and 2008 in the largest public university hospital in Uruguay (Perinatal Information System, PAHO). The hospital provides free access to prenatal and...

This paper studies the joint dynamics of corruption and pollution in a model of evolutionary game theory, where firms face a given pollution standard and the government must check the compliance to this standard by means of public officials who can be honest or not. A novelty of our paper is...

How much redistribution does Uruguay accomplish through social spending and taxes? How progressive are revenue collection and social spending? A standard fiscal incidence analysis shows that Uruguay achieves a nontrivial reduction in inequality and poverty when all taxes and transfers are...

Uruguay is carring out an incipient regulatory reform process in telecommunication sector. The reform stresses on the liberalization of all services but fixed telephone and national long distance, and the creation of a regulatory agency. Privatization of the national utility is not foreseen. The...