This paper analyzes the fiscal policy implications set in the Mundell‑Fleming (M‑F) model and its effectiveness in emerging economies. It also widens the scope of the policy mix with alternative exchange rates. The empirical evidence about the economies of Chile (1991-2003) and Colombia...

The legacy of the last 50 years of development economics is not very inspiring. In the 1960s and 1970s, instead of looking at the real causes and viable solutions to poverty and underdevelopment, development economics was preoccupied with the politically-charged debate over the superiority of...

We consider statistically independent non-identical subsystems with different entropic indices q1 and q2. A relation between q1, q2 and q′ (for the entire system) extends a power-law for entropic index as a function of distance r. A few examples illustrate a role of the proposed constraint...

An entropic measure for the analysis of grey level inhomogeneity (GLI) is proposed as a function of length scale. It allows us to quantify the statistical dissimilarity of the actual macrostate and the maximizing entropy of the reference one. The maximums (minimums) of the measure indicate those...

The statistical measure of spatial inhomogeneity for n points placed in χ cells each of size k×k is generalized to incorporate finite size objects like black pixels for binary patterns of size L×L. As a function of length scale k, the measure is modified in such a way that it relates to...

On the basis of a model system of pillars built of unit cubes, a two-component entropic measure for the multiscale analysis of spatio-compositional inhomogeneity is proposed. It quantifies the statistical dissimilarity per cell of the actual configurational macrostate and the theoretical...

This paper analyzes, structural budget surplus (SBS) rule evidence for the Chilean economy. We examine its effect on macroeconomic variables, such as credit worthiness, output volatility, policy effectiveness ,and welfare level gains over time due to economic growth. Thus, SBS becomes a public...