This paper presents in the first place, Kemps contribution to the understanding of the effects of the presence of IRS on the H-O theory of trade. Then, following W. Ethier we present a view about the development of trade theory incorporating IRS. Later on we present the “integrated economy”...

This essay is concerned with the basic concepts of National Income and Product Accounts, which are used mostly for macroeconomic analysis. The Input-Output Accounts are also analyzed in order to discuss, once again, the different methods of GDP estimation. Moreover, Monetary Flows and Balance of...

From the Political Economy point of view, the big utilities-subsidized energy efficiency programs in the latest eighties and the former nineties, the capacity to use the utilities for this end depends ultimately on the institutional continuity of the regulated monopolies of the electricity...

During the past decades, the Pontifical Catholic University of Peru (known as PUCP) has been giving student loans to some of its students with satisfactory academic performance but who face certain economic problems which might interrupt their studies. Although this program was created more than...

The labor reform which began in Peru in 1991 has generated a new labor context. The aim of this article is to analyze the effect of the change in labor legislation on the labor market adjustment process of Lima Metropolitana. By means of the analysis of unemployment structure and of the time...

The objective of this paper is to estimate interna1 rates of return of education in Peru. The methodology is based on conventional cost-benefit analysis, where income flows are calculated using “mincerian” equations. To deal with sample selection bias, estimated income equations where...

The main purpose of this paper is to answer the following question: which factors explain the persistence of fluctuation in the Peruvian economy? We answer it constructing a non-linear deterministic dynamical system obtaining fluctuations as a result of structural aspect of the Peruvian economy....

The main purpose of this paper is to emphasize the importance of the externa1 imbalances generated by the economic program of the Fujimori government, presenting the circumstances that explain why these imbalances have been accompanied, paradoxically, by a significative increase in foreign...

There are two main positions to explain the exchange rate appreciation which occurred during President Fujimori's government. The first one state that this appreciation was caused by a restrictive monetary policy, while the second attributes it to a capital inflow originated by the fall of...