The OECD’s proposed regime of asymmetric ex ante regulation for Mexico’s telecommunications marketplace would reduce competition, contrary to the OECD’s aims. The OECD’s proposals would harm Mexican consumers and force an increase in prices paid for telecommunications services. They...

La mayor parte de la evidencia empírica sobre el efecto de Fisher o la hipótesisde Fisher sostiene que la relación entre la tasa de inflación y la tasa de interés nominaldebe ser igual a uno. Este artículo analiza la relación entre la tasa de interés nominaly la tasa de inflación para...

Resumen La mayor parte de la evidencia empírica sobre el Efecto de Fisher" ó "Hipótesis de Fisher", sostiene que la relación entre la tasa de inflación y la tasa de interés nominal debe ser igual a uno. Este documento analiza la relación entre la tasa de interés nominal y la tasa de...

Resumen: En el lapso 1968-2009, la economía venezolana y, en particular, lainversión privada, ha transitado un largo camino, caracterizado por una profunda inestabilidad macroeconómica, asociada al deterioro político e institucional, shocks externos negativos causados por los desequilibrios...

This paper analyzes the cost of disinflations under real wage rigidities in a micro-foundedNew Keynesian model. The consensus is that real wage rigidities can be a useful mechanismto induce the inflation persistence that is absent in the standard Calvo model...

In light of recent global economic and geopolitical shocks threatening trade openness, this report aims to shed light on geoeconomic fragmentation and develops a rich set of new tools to assess its economic effects and implications for central banks. The report shows that, although global trade...

The argument made in this manuscript is that the two traditional macroeconomic tools, fiscal policy and monetary policy, are insufficient to bring back efficiently into equilibrium an economy that has had a major crisis. Both traditional macro-tools only work through the demand side, and there...