This paper analyses the three dimensions determining financial inclusion in the case of Argentina, from a micro-economic perspective. On the supply side, formal financial services are accessed through traditional channels: branches and ATMs, with an as-yet incipient regulation for financial...

El presente estudio pretende analizar, desde un punto de vista microeconomico, las tres dimensiones que determinan la inclusion financiera para el caso de Argentina. Desde el lado de la oferta se tiene que el acceso a los servicios financieros formales se basa en los canales tradicionales:...

We propose a Markov-switching dynamic factor model to construct an index of global business cycle conditions, to perform short-term forecasts of world GDP quarterly growth in real time and to compute realtime business cycle probabilities. To overcome the real-time forecasting challenges, the...

Tras la crisis economica iniciada en 2008, el declive economico de sectores como el de la inversion residencial ha puesto de manifiesto que la economia espanola necesita reorientar su actividad productiva hacia sectores con mayor potencial de crecimiento futuro y de creacion de empleo, como...

The goal of this paper is to explore the benefits of having a private liquidity provider and the conditions under which this lender provides liquidity, when a public liquidity provider is also present. The model proposed incorporates an endogenous interbank lending market so that the decision of...

According to the economic approach to political transitions, transitory negative economic shocks can open a window of opportunity for democratic improvement. Testing the theory requires a source of transitory shocks to the aggregate economy. We use rainfall shocks in Sub-Saharan African...

El buen funcionamiento de los gobiernos corporativos incide positivamente en la competitividad y crecimiento de una economia. Las caracteristicas de los mercados de capitales inciden en la estructura del problema de agencia que se establece en las companias, por lo que determinara distintos...

Many factors inhibiting and facilitating economic growth have been suggested. Can agnostics rely on international income data to tell them which matter? We find that agnostic priors lead to conclusions that are sensitive to differences across available income estimates. For example, the PWT 6.2...

El presente estudio tiene como objetivo plantear estadisticamente la probabilidad de que los trabajadores que no se encuentran cotizando a los sistemas de pensiones, tengan los incentivos para hacerlo. Para ello, se tomo a Chile como caso de estudio, contando primero con una revision de los...

This study aims to establish the statistical probability that workers who are not contributing to pension funds might do so, provided with the right incentives to. Chile was used as a case study for this purpose. First, voluntary savings schemes were reviewed and compared with similar systems in...