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This paper analyzes Latin American performance over the period 2003-2014 with the purpose of evaluating two ideas: whether this period constituted so-called ‘golden years' and whether the 2010s were likely to be a ‘Latin American decade' This term was used several times by scholars,...
Persistent link: https://www.econbiz.de/10012914938
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This working paper has been commissioned by the Poverty Group, Bureau for Development Policy at UNDP, to identify the transmission mechanisms of the financial crisis from developed to developing countries and to provide broad policy recommendations at the national, global and regional level. The...
Persistent link: https://www.econbiz.de/10003824869
Persistent link: https://www.econbiz.de/10013475703
In this paper, we use the largest exchange rate survey in Colombia to test for the rational expectations hypothesis, the presence of a time-varying risk premium and the accuracy of exchange rate forecasts. Our findings indicate that episodes of exchange rate appreciation preceded expectations of...
Persistent link: https://www.econbiz.de/10011994314
Typically, central banks use a variety of individual models (or a combination of models) when forecasting inflation rates. Most of these require excessive amounts of data, time, and computational power; all of which are scarce when monetary authorities meet to decide over policy interventions....
Persistent link: https://www.econbiz.de/10011078540
Typically, central banks use a variety of individual models (or a combination of models) when forecasting inflation rates. Most of these require excessive amounts of data, time, and computational power; all of which are scarce when monetary authorities meet to decide over policy interventions....
Persistent link: https://www.econbiz.de/10011078575
In this paper we survey prominent theories that have shaped the literature on sterilized foreign exchange interventions. We identify three main strands of literature: 1) that which advocates the use of sterilized interventions; 2) that which deems sterilized interventions futile; and 3) that...
Persistent link: https://www.econbiz.de/10011122640
In this paper we survey prominent theories that have shaped the literature on sterilized foreign exchange interventions. We identify three main strands of literature: 1) that which advocates the use of sterilized interventions; 2) that which deems sterilized interventions futile; and 3) that...
Persistent link: https://www.econbiz.de/10011123063
The history of economic recessions has shown that every deep downturn has been accompanied by disruptions in the financial sector. Paradoxically, up until the financial world crisis of 2007-2009, little attention was given to macroeconomic and financial interdependence. And, in spite of a...
Persistent link: https://www.econbiz.de/10010906058