This document contains several exercises related to the microfoundation of macroeconomics; the Keynesian macroeconomics with fixed prices; the money demand theory; and the IS-LM static and dynamic model. The exercises are complemented with theoretical discussions and are illustrated with graphs....

The theory of economic policy and the new tendencies on macroeconomics are the two issues, which are illustrated with solved problems in this document. There are exercises on both approaches to economic policy: the traditional and the version based on rules. It is also included exercise related...

This paper describes the evolution of macroeconomic theory in both closed and open economies. In the first section we present the evolution of the theory of a closed economy‚economies that do not have international trade; nor do it have links to the international financial markets. Since Keynes,...

Given that human development is a complex process involving multiple components and determining factors, multidimensional indicators are needed. On the basis of the extensive literature on the subject, we advance two new indicators: the Matrix of Capabilities and Functioning (MCF), and the...

About 1970 until 1990, the federal regulatory policy in the United States experiences an deep and wide change. In the first place regulation was dramatically expanded. But immediately a contraction of economic regulation took place. Prince, benefits, and entry controls in sectors such as...

The aim of this paper is to determine the influence of personal characteristics and previous labor story on the probability of being unemployed. So we estimate a PROBIT regression for years 1989, 1991 and 1996, using data from the Employment Level Surveys for Lima Metropolitana. We find, first,...

The purpose of this paper is to study the transmission mechanism of monetary policy under an institutional framework characterized by a dollarized banking system, a flexible exchange rate and free capital movements. The main result of this study is that a restrictive monetary policy can...

This paper tries to emphasize the importance of the inflow of foreign capitals for the performance of the Peruvian economy during the 1990-1998 period. In fact, it is argued that both the expansion of the level of activity and the defeat of inflation were made possible by the big inflow of...

This paper reviews the main attributes of the electric sector and analyses from an institutional perspective the challenges of increasing the generation supply. Although the sector evolved with regulated monopolies, this institution creates its own costs; there is a trade of between the costs...