Skills versus Luck: Bolivia and its recent Bonanza | Latin American Economic Review
This paper uses different approaches to determine the contribution of internal policies and external factors on the good performance of the Bolivian economy in the recent past. It is demonstrated that the extremely favorable external conditions are mainly responsible for its bonanza, and that the domestic policies have, probably, caused more harm, than good. The
- Published in Revistas CIDE
Interest rate pass-through in the Dominican Republic
A well-functioning monetary transmission mechanism is critical for monetary policy. As the Dominican Republic recently adopted an inflation targeting regime, it is even more relevant to guarantee that changes in the monetary policy rates are quickly and fully reflected in retail rates, to eventually influence aggregate demand and inflation. This paper written by Francesco Grigoli
- Published in Revistas CIDE
The economic integration of Spain: a change in the inflation pattern
The behavior of Spanish inflation rates at the provincial level (consumption prices) differs over the two spans of time considered in our study (1955.1–1978.6, 1978.7–2014.4). Alejandro C. García-Cintado, Diego Romero-Ávila and Carlos Usabiaga point to a long list of institutional and economic changes, at national and international levels, as the potential factors that might have led
- Published in Revistas CIDE
Growth, bank credit, and inflation in Mexico: evidence from an ARDL-bounds testing approach
This paper written by Miguel Ángel Tinoco-Zermeño, Francisco Venegas-Martínez and Víctor Hugo Torres-Preciado, explores the long-run effects of inflation on the dynamics of private sector bank credit and economic growth in Mexico over the period 1969–2011. With an ARDL-type model, the statistical results suggest that the availability of private sector bank credit in the economy
- Published in Revistas CIDE