The Peruvian central bank took two major decisions in the early 2000s: implementing an inflation target system and accumulating sufficient foreign-exchange reserves. These two decisions have allowed the central bank to preserve macroeconomic stability in favorable or unfavorable international...

In this study, we investigate the long term dependence or long memory present in the volatility of the stock market returns of Peru, Brazil, Mexico, Chile, Argentina, and the S&P500. We start analyzing the form of the autocorrelation function (ACF) and the estimated spectral density. Moreover,...

Though the econometrics literature on this area is extensive, in Peru few studies have been dedicated to the analysis of Önancial returns in general and volatility in particular. As part of an empirical research agenda suggested by Humala and RodrÌguez (2013), this paper represents one of the...

This paper has four objectives. Firstly, to verify the existence of long-term relationships between the groups of variables analyzed (product, consumption, private investment, public investment, and terms of trade). Secondly, to analyze the role of public and private investment, as well as the...

Using daily observations of the index and stock market returns for the Peruvian case from January 3, 1990 to May 31, 2013, this paper models the distribution of daily loss probability, estimates maximum quantiles and tail probabilities of this distribution, and models the extremes through a...

En este libro se intenta contribuir a la superación del desconocimiento de las comunidades campesinas de los Andes del Perú. Se busca conocer de una manera más precisa -más analítica- el funcionamiento de la economía campesina de la sierra, el papel que juega dentro del sistema económico...

En momentos en que nuestro país es testigo de un intenso debate sobre el Sistema Privado de Pensiones (SPP), el cual refleja la pérdida de legitimidad de las Administradoras Privadas de Fondos de Pensiones (AFP) frente a sus afiliados, publicamos este libro con el objetivo básico de evaluar...

Sobre el tema de la educación todos tenemos opinión, porque todos hemos pasado por la escuela y la mayoría tenemos además hijos, sobrinos o nietos cuyo futuro nos preocupa. Más allá de ideas sugerentes y de análisis más o menos brillantes, no disponemos sin embargo sino de estudios muy...