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...

This essay presents the Keynesian and monetarist approaches to the effects of monetary policies on output and employment. The Keynesians argue that the monetary authorities could permanently increase output or employment by raising monetary growth, trading this off against a higher wage and...

This essay is an introduction to macroeconomics. It starts with a brief history of this branch of economic science from Petty, Cantillon and Hume contributions until the recent propositions of the so-called New “Classical” Macroeconomics. Certainly, it is also analyzed the classic,...

The utilities price regulation in the United States has historically been made by a state commission. Nevertheless, this regulatory system does not incentive cost controls within the utilities. In order to rectify this situation the regulatory commissions have changed their view to one of...

This article surveys some crucial trade off’s in the regulation of natural monopolies. The survey considers issues related to entry and price regulation with complete and incomplete information, the use of bids, and the election of regulatory schemes. In the tradition of the normative theory...