Revista Estudios Económicos 43 December 2023 Digital Money and Central Bank Balance Sheets By Adrián Armas ; Manmohan Singh External Shocks in the Peruvian Economy: A Sign-and-Zero Approach in a BVAR Model By Gustavo Ganiko ; Alvaro Jiménez Re-election of Local Authorities: An Analysis of Its Influence on District Well-being Indicators During the 2011–2014 Municipal Term By Diego Camacho ; Jhonatan Vicuña
Revista Estudios Económicos N° 42 August 2023 Quarterly Projection Model: An Update Through 2019 By John Aguirre ; Johar Arrieta ; Luis Castillo ; David Florián ; Alan Ledesma ; Jefferson Martínez ; Valeria Morales ; Amilcar Vélez Assessment of Core Inflation Indicators for Peru: 2002–2021 By Alexander Grande ; Erick Lahura Public Management Quality Index for Municipalities in Peru By Luis Castillo
Revista Estudios Económicos N° 41 EN April 2023 Monetary and Exchange Rate History of the Republic of Peru: An Overview By Gonzalo Pastor Analysis of the Weak Form of the Efficient Market Hypothesis in Peru By Freddy Espino A Tale of Two Poverties in Peru: From Monetary to Multidimensional By Luis Castillo ; Mario Huarancca
Revista Estudios Económicos N° 40 EN December 2022 The Effects of Fiscal Policy on Economic Activity in Peru By Erick Lahura ; Teresa Castillo Internal Migration in Peru, 2012–2017 By Willy Alanya ; Renzo Castellares ; Mario Huarancca Development of a Regional Economic Activity Indicator and Gross Value Added Forecasts: The Case of Loreto By Fritz Gian Pier Alva Da Silva ; Mario André López Rojas
Revista Estudios Económicos N° 39 EN December 2020 Financial Market Development and Monetary Policy: The Peruvian Experience By Carlos Montoro ; Renzo Rossini ; Miriam Luna Heat Map of the Peruvian Financial Market By Diego Chicana ; Rafael Nivin ; Derry Quintana ; Elmer Sánchez ; Diego Yamunaqué ; Alex Cisneros Demographic Bonus, Productivity, and Economic Growth By Renzo Castellares ; Mario Huarancca
Revista Estudios Económicos N° 38 EN December 2019 An Exploration of the Stability of the Phillips Curve in Peru By Youel Rojas The New Keynesian Phillips Curve in a Small, Open Economy: Specification, Structural Breaks, and Robustness By Juan Carlos Aquino Is There a Horizontal Segment in the Phillips Curve? Peru 2005–2017 By Carlos Barrera Financial Vulnerability and GDP Risk Scenarios Using Growth at Risk (GaR) By Rocío Gondo
Revista Estudios Económicos N° 37 EN June 2019 Monetary policy communication in South American central banks. By Paul Castillo B. ; Rafael Herrada ; Carlos Montoro ; Fernando Pérez Forero Non-performing Loans in Foreign Currency and the Real Exchange Rate: Evidence for Peru, 2003–2018 By Freddy Espino ; Erick Lahura Estimation of a Financial Conditions Index for Peru By Rafael Nivin ; Fernando Pérez Forero
Revista Estudios Económicos N° 36 EN December 2018 Determinants of the Real Equilibrium Exchange Rate in Peru: Is the Sol a Commodity Currency? By Melesse Tashu The effect of tax changes on economic activity in Peru: An application of the narrative approach By Giovana Castillo ; Erick Lahura Real estate price index: A hedonic approach By Fernando Mundaca ; Elmer Sánchez Semi-parametric estimation of equivalence scales: An application to household surveys in Peru By Roger Asencios
Revista Estudios Económicos N° 35 EN June 2018 The Heterogeneity of Credit Dollarization at the Household Level By Nikita Céspedes Aggregate and Sectoral Shocks in the Peruvian Economy By Ana Paola Gutiérrez ; Fernando Pérez Forero An Analysis of the Exchange Rate Pass-Through: Nonlinearity and Asymmetry in Mexico and Peru By Ronald Cueva Identifying the Fiscal Risk of Subnational Governments in Peru By Alvaro Jiménez ; Carlos Montoro
Revista Estudios Económicos N° 34 EN December 2017 Global and Idiosyncratic Factors in Inflation Dynamics in Latin America By Paul Castillo B. ; Arnold Rivasplata External Shocks and the Coordination of Monetary and Macroprudential Policies in the Economies of the Pacific Alliance By Zenón Quispe ; Donita Rodríguez ; Hiroshi Toma ; Cesar Vasquez Chronology of Economic Cycles in Peru: 1992 to 2016 By Diego Winkelried Public and Private Transfers and Their Importance in Poverty By Nikita Céspedes
Revista Estudios Económicos N° 33 EN June 2017 El efecto traspaso de la tasa de interés de política monetaria en Perú: Evidencia reciente By Erick Lahura Condiciones de mercado y calidad como determinantes del traspaso del tipo de cambio By Renzo Castellares Real Dollarization in Peru By Alex Contreras ; Martín Martínez ; Zenón Quispe ; Fernando Regalado Optimal Monetary and Macroprudential Policies Post-Basel III By Carlos Rojas
Revista Estudios Económicos N° 32 EN December 2016 A Comparison of Monetary Policy Shock Transmission in Latin America: A Hierarchical VAR Panel By Fernando Pérez Forero Transmission of U.S. Monetary Policy Shocks to Latin America: A GVAR Approach By Jairo Flores Financial System, Informality, and Tax Evasion in Peru By Erick Lahura Determinants of the Financial Margin in the Microfinance Sector: The Peruvian Case By Hugo Fuentes-Dávila
Revista Estudios Económicos N° 31 EN June 2016 Productivity as the Key to Growth and Development in Peru and the World By Norman Loayza Common Trends in the Consumer Price Index By Maria Gracia Ramos ; Diego Winkelried An Analysis of the Effectiveness of Exchange Rate Interventions in Peru By Juan David Durán-Vanegas The Banking Sector, Capital Markets, and Real Economic Activity in Peru: An Empirical Causality Analysis By Erick Lahura ; María Paula Vargas Inflation Expectations and Dollarization in Peru By Fernando Pérez Forero ; Zenón Quispe ; Renzo Rossini ; Marco Vega
Revista Estudios Económicos N° 30 EN December 2015 On Capital Inflows and Outflows: Gross and Net Flows and Economic Policy By José De Gregorio An Analysis of the Cost of Credit in Peru By Marylin Choy ; Eloy Churata ; Eduardo Costa Recent Trends in Overseas Bond Issuances by Latin American Companies By Paul Castillo B. ; Hugo Vega ; Miriam Luna Banking Crises as Rare Events By Diego Winkelried ; María de Fátima León ; Astrid Vargas The Great Depression of the Peruvian Economy: A Perfect Storm? By Luis-Gonzalo Llosa ; Ugo Panizza
Revista Estudios Económicos N° 29 EN June 2015 Toward solid and stable capital markets in emerging economies By Liliana Rojas-Suárez Fat-tail shocks and monetary policy By Marco Ortiz Order flows in the foreign exchange market and the intrinsic value of the Nuevo Sol By Diego Winkelried ; Eduardo Lock Macroprudential Measures and Monetary Policy Management in a Small, Open Economy By Joao Ribeiro Systemic Risk in the Peruvian Financial System By César D. Castro
Revista Estudios Económicos N° 28 EN December 2014 Sectoral productivity in Peru: a firm-level analysis By Maria E. Aquije ; Nikita Céspedes ; Alan Sánchez ; Rafael Vera-Tudela Terms of trade and total factor productivity: empirical evidence from Latin American emerging markets By Paul Castillo B. ; Youel Rojas Housing prices in Lima By Fabrizio Orrego Choice of export modes: evidence from Peruvian firms By Edward Manuel Ruiz Crosby
Revista Estudios Económicos N° 27 EN June 2014 Foreign exchange intervention in Peru: 2007 to 2013 By Zenón Quispe ; Renzo Rossini ; Enrique Serrano Macroprudential measures implemented in Peru By Giancarlo Chang ; Marylin Choy The credit channel in Peru: an SVAR approach By Miguel Cabello ; Hugo Viladegut The duration of unemployment in Metropolitan Lima By Vanessa Belapatiño ; Nikita Céspedes ; Ana Paola Gutiérrez A model for the pension system in Peru: diagnosis and recommendations By David Tuesta Cárdenas ; Javier Alonso ; Rosario Sánchez
Revista Estudios Económicos N° 26 EN December 2013 BCRP quarterly projection model: update and new developments By Diego Winkelried Investment intensity and foreign direct investment flows to emerging economies By Elmer Sánchez Building a coincident recession index: an application to the Peruvian economy By Liu Mendoza ; Daniel Morales Exchange rate regimes and macroeconomic performance: a review of the literature By Erick Lahura ; Marco Vega
Revista Estudios Económicos N° 25 EN June 2013 The macroprudential authority: powers, scope, and accountability By Charles A. E. Goodhart The role of money in New Keynesian models By Bennett McCallum Capital flows, monetary policy, and exchange rate intervention in Peru By Zenón Quispe ; Donita Rodríguez ; Renzo Rossini Credit growth in Latin America: financial development or credit boom? By Niels-Jakob Harbo Hansen ; Olga Sulla Trading partners and growth in Latin America: a dynamic SVAR approach By Miguel Saldarriaga ; Diego Winkelried
Revista Estudios Económicos N° 24 December 2012 Financial Frictions and the Interest Rate Spread in a Dollarized Economy By Hugo Vega Policy Responses to the Global Financial Crisis: What Did Emerging Economies Do Differently? By Francisco Ceballos ; Tatiana Didier ; Constantino Hevia ; Sergio Schmukler Credit Growth and the Effectiveness of Reserve Requirements and Other Macroprudential Instruments in Latin America By Mercedes Garcia-Escribano ; Camilo Tovar ; Mercedes Vera Martin Monetary Inequality in a Context of Rapid Economic Growth: The Recent Case of Peru By Gustavo Yamada ; Juan F. Castro ; José L. Bacigalupo Regional inflation dynamics and the inflation targeting framework in Peru By José Gutierrez ; Diego Winkelried
Revista Estudios Económicos N° 23 EN June 2012 Exchange rate pass-through and inflation targets in Peru By Diego Winkelried Inflation and economic growth: panel data evidence for South America By Manoel Bittencourt Measuring the effects of monetary policy through market expectations By Erick Lahura Impact of the Juntos Program on early childhood nutrition By Miguel Jaramillo ; Alan Sánchez The impact of public spending on the internal migration process: empirical evidence for the period 2002–2007 By Enver Vargas
Revista Estudios Económicos N° 22 EN December 2011 Volatility and crises: three lessons for developing countries By Norman Loayza Policy formulation from a macroprudential perspective in emerging economies By Ramón Moreno Bayesian estimation of a small open economy model with partial dollarization By Jorge Salas The bank credit channel in Peru: evidence and transmission mechanism By César Carrera Demographics and asset prices By Fabrizio Orrego
Revista Estudios Económicos N° 21 EN June 2011 Is a less procyclical financial system an achievable goal? By Charles A. E. Goodhart Factors driving de-dollarization in Peru By Mercedes Garcia-Escribano Monetary policy transmission mechanisms in Peru By Paul Castillo B. ; Fernando Pérez Forero ; Vicente Tuesta Methodological proposal for the individual targeting of social programs By Juan Pichihua ; Jose Valderrama
Revista Estudios Económicos N° 20 EN March 2011 Capital inflows and reserve accumulation: recent evidence By Carmen M. Reinhart ; Vincent R. Reinhart Trend indicators of inflation and their relevance as monetary policy variables By Adrián Armas ; Marco Vega ; Lucy Vallejos Exchange rate pressures in Peru: a nonlinear approach By Daniel Morales Time is money: calculating the social value of time in metropolitan Lima for urban transport users By Denisse Calmet ; Juan Miguel Capurro
Revista Estudios Económicos N° 19 EN September 2010 Fiscal rules and terms of trade By Youel Rojas ; Juan Pablo Córdova Estimation of Tobin’s Q for the Peruvian economy By Carlos Montoro ; Alberto Navarro Estimation of capital by price risk: evaluating methodologies for the Peruvian case By Carlos Del Carpio ; Zevallos, Mauricio
Revista Estudios Económicos N° 18 EN December 2009 Determinants of the size of a monetary policy committee: theory and cross-sectional evidence By Szilárd Erhart ; José Luis Vásquez Nonlinear effects of exchange rate variations on exchange rate-credit risk: empirical evidence for Peru By Pablo Azabache Analysis of social policy targeting By Augusta Alfageme ; Marielle Del Valle
Revista Estudios Económicos N° 17 EN June 2009 A general equilibrium model with dollarization for the Peruvian economy By Paul Castillo B. ; Carlos Montoro ; Vicente Tuesta A semi-structural projection model for the Peruvian economy By Saki Bigio ; David Florián ; Luis-Gonzalo Llosa ; Shirley Miller ; Nelson Ramírez-Rondán ; Donita Rodríguez ; Jorge Salas ; Marco Vega ; Diego Winkelried Financial crises and reserve management in Peru By Daniel Barco ; Paul Castillo B. Estimation of the zero-coupon yield curve for Peru By Javier Pereda
Revista Estudios Económicos N° 16 EN March 2009 What explains inflation fluctuations in Peru during the 2002–2008 period? Evidence from a structural VAR analysis By Jorge Salas Optimal exchange rate stabilization in a dollarized economy with an inflation target By Nicoletta Batini ; Paul Levine ; Joseph Pearlman Impact of the adjustment of the minimum wage on employment and informality By Marielle Del Valle Testing the Marshall-Lerner condition and the J-curve effect: empirical evidence for the Peruvian case By Rafael Bustamante ; Fedor Morales
Revista Estudios Económicos N° 15 EN June 2008 Monetary policy efficiency and the stability of Central Bank preferences: Empirical evidence for Peru By Gabriel Rodríguez Monetary policy rules for Chile and Peru: evidence of instability in the parameters By Gustavo Leyva Causes and consequences of informality in Peru By Norman Loayza Fiscal rules and output volatility By Carlos Montoro ; Eduardo Moreno
Revista Estudios Económicos N° 14 EN December 2007 The monetary policy transmission mechanism in a financial dollarization environment: the case of Peru between 1996 and 2006 By Renzo Rossini ; Marco Vega Stylized facts of the Peruvian economy By Paul Castillo B. ; Carlos Montoro ; Vicente Tuesta Depreciation expectations and interest rate differentials: Are there shifting regimes? The case of Peru By Alberto Humala Financial dollarization, the portfolio approach, and expectations: Evidence for Latin America (1995–2005) By Alan Sánchez
Revista Estudios Económicos N° 13 EN January 2006 The pass-through effect of interest rates and monetary policy in Peru: 1995–2004 By Erick Lahura A BVAR projection model for Peruvian inflation By Luis-Gonzalo Llosa ; Vicente Tuesta ; Marco Vega Inflation crises and total factor productivity in Latin America By Juan Carlos Aquino ; Nelson Ramírez-Rondán Bank concentration and the interest rate spread in Peru By César Carrera ; Freddy Espino Effects of the minimum wage on the Peruvian labor market By Nikita Céspedes
Revista Estudios Económicos N° 12 EN December 2004 De-dollarizing the Peruvian economy: a portfolio approach By Juan F. Castro ; Eduardo Andrés Morón Pastor Monetary policy transmission mechanisms and the impact of a devaluation at the firm level By James Loveday Laghi ; Oswaldo Molina C ; Roddy Nelson Rivas-Llosa Martínez Considerations for fiscal decentralization: guidelines for the Peruvian experience By Luis Carranza ; David Tuesta Cárdenas
Revista Estudios Económicos N° 11 EN July 2004 Common trends and analysis of monetary policy in Peru By Diego Winkelried Examining Some Economic Policy Dilemmas with a Structural Model By Luis-Gonzalo Llosa The Money-Output Relationship, Output Gap, and Core Inflation: Some Applications of Wavelet Functions By Erick Lahura Credit Market Structure and Interest Rates: An Approach to the Microfinance Segment By Robert Soto ; Paúl Antonio Rebolledo Drug Prices and Policies in Peru By Jorge Eduardo Lladó ; Milagros de la Lama Eggerstedt
Revista Estudios Económicos N° 10 EN December 2003 Using a small-scale semi-structural model for projections: some considerations By Marco Vega ; Javier Luque Reporting the distribution of the inflation projection By Marco Vega Alternative methods for estimating potential GDP: an application to the case of Peru By Shirley Miller Leading economic activity indicator models for Peru By Jorge Eduardo Lladó ; Enrique Ochoa Estimation of the exchange rate pass-through to prices: 1995–2002 By Shirley Miller Is the pass-through asymmetric in Peru?: an aggregate analysis By Diego Winkelried Real exchange rate and its fundamentals: estimation of the misalignment By Jesús Ferreyra ; Rafael Herrada
Revista Estudios Económicos N° 09 EN July 2003 Toward an explicit inflation target: anticipating inflation in Peru By Diego Winkelried Fiscal policy sustainability: a simulation of the budget constraint By José Luis Pereyra An analysis of the interventions of the Central Reserve Bank of Peru in the foreign exchange market: 1999–2001 By Miguel Flores Bahamonde Exchange rate dynamics: an approach based on market microstructure theory By José Manuel Azañero Saona The central bank and financial derivatives: the case of currency options By Rosario Bernedo ; José Manuel Azañero Saona Volatility in the primary export sector: an analysis of the Peruvian case By Arturo Ormeño ; Mauricio De la Cuba U.S. tariff policy and export dynamics in Peru’s apparel and clothing industry during the 1990s By Arturo Ormeño Cyclical and structural factors in the evolution of the unemployment rate By Nikita Céspedes Foreign exchange risk management: an application of value at risk to the Peruvian financial market By Mario Antonio Zambrano
Revista Estudios Económicos N° 08 EN June 2002 Microeconomic aspects of credit constraints in Peru: 1997–2000 By José Berróspide ; José Dorich Doig Is full dollarization advisable in a partially dollarized economy? By Zenón Quispe ; Carlos Pereyra Monetary policy rules for financially vulnerable economies By Diego Winkelried ; Eduardo Andrés Morón Pastor Identifying troubled banks. How should the banking authority measure financial fragility? By César Serra R. ; Zully Zúñiga A. Banking fragility and financial crisis prevention in Peru: 1997–1999 By José Berróspide Foreign exchange risk management in the Peruvian banking system By Ruy Lama Cyclical behavior of the Peruvian economy: 1980–1998 By Elizabeth Cáceres ; Patricia Sáenz Heterogeneity of rural poverty: an application of the “ordered data” model By Nikita Céspedes ; Judith Guabloche A measure of the efficiency of public spending on education: FDH analysis for Latin America By José Luis Pereyra
Revista Estudios Económicos N° 07 EN December 2001 Aspects of Adopting an Inflation Targeting Regime in Peru By Renzo Rossini From Monetary Targets to Inflation Targets in a Partially Dollarized Economy: The Peruvian Case By Adrián Armas ; Zenón Quispe ; Luis Valdivia Souza - Peixoto ; Francisco Grippa Policy Rules and External Shocks By Laurence Ball Implications of partial dollarization for the inflation-targeting regime: an analysis based on the literature on dollarization By Alain Ize Practical aspects of adopting an inflation-targeting regime in emerging economies: possible implications for Peru By Mark R. Stone Inflation Targets and Flexible Exchange Rates in Emerging Economies By Kevin Clinton ; Jean François Perrault Monetary Policy and Inflation Targets in Chile By Felipe Morandé ; Klaus Schmidt-Hebbel Mexico’s monetary policy framework under a floating exchange rate regime By Agustín G. Carstens ; Alejandro M. Werner Uncertainty regarding the output gap and the reaction function under an inflation-targeting regime By Mario Caballero Rosazza ; José Víctor Gallegos Muñoz
Revista Estudios Económicos N° 06 EN August 2001 Monetary Policy in a Partially Dollarized Economy: The Case of Peru By Zenón Quispe Core Inflation in Peru By Lucy Vallejos ; Luis Valdivia Souza - Peixoto A Measure of Core Inflation for Monetary Policy Proposals in Peru By Guillermo Ferreyros ; Francisco Grippa Transmission Mechanisms and Monetary Policy Rules: The Position of Monetary Policy as a State Variable By Carlos Barrera Monetary Rules for Peru By Luis Triveño ; José Dorich Doig Suggestions for the Modernization of the State By Manuel Ricardo Deza Morales Fiscal Rules for Peru By José Luis Pereyra Terms of Trade and Economic Cycles: 1950–1998 By Patricia Tovar ; Alejandro Chuy Kon
Revista Estudios Económicos N° 05 EN December 2000 The Information Contained in Monetary Aggregates in Peru By David Fernández Central Bank Monetary Policy: A Historical Perspective By Guillermo Guevara The Objective of Central Bank Intervention: The Exchange Rate Level, the Reduction of Exchange Rate Volatility, or Both?: An Analysis of the Peruvian Experience, 1991–1998 By Marco Arena ; Pedro Tuesta Soria Estimation of Potential GDP: Peru, 1950–1997 By Luis Valdivia Souza - Peixoto ; Pedro Cabredo Economic Cycles, Policies, and Fiscal Rules By Fernando Vásquez ; Rita I. Mesías Evolution of Household Well-being, 1994–1997: What Do Living Standards Surveys Tell Us? By Augusta Alfageme ; Nikita Céspedes ; Judith Guabloche
Revista Estudios Económicos N° 04 EN December 1999 Impact of privatizations in Peru By Rosendo Paliza The current account in Peru: a perspective based on the consumption smoothing approach, 1960–1996 By Marco Arena ; Pedro Tuesta Soria Cost of reforming the National Pension System: an adaptation of the overlapping generations model By Carlos Montoro Evolution of spreads on foreign loans to firms: the Peruvian case: 1992–1997 By Miguel Teodoro Cruz Labrín ; Patricia Tovar The Quality of the Banking System’s Loan Portfolio and the Economic Cycle: An Econometric Approach for the Peruvian Case By Jorge Muñoz Estimation of a New Monetary Aggregate in Local Currency for the Peruvian Economy By Jorge Eduardo Lladó ; Guillermo Alarcón
Revista Estudios Económicos N° 03 EN December 1998 An approach to the demand for the main monetary aggregates in Peru: June 1991–May 1997 By Zenón Quispe Fundamentals and Misalignments: The Real Equilibrium Exchange Rate in Peru By Marco Arena ; Pedro Tuesta Soria Determinants of the Interbank Interest Rate and the Importance of Variability in Its Estimation By Vicente Tuesta ; Paul Bringas A. Determinants of the intermediation margin in the Peruvian case By Lucía Barrantes Evaluation of institutional investor portfolios: mutual funds and pension funds By Paul Castillo B. ; Ruy Lama Problems in measuring inflation By Luis Valdivia Souza - Peixoto ; Pedro Cabredo Credit ratings and country risk By Jorge Morales ; Pedro Tuesta Soria
Revista Estudios Económicos N° 02 EN August 1998 Poverty and social welfare: developments in recent years By Departamento de Estudios del Sector Social A Review of Poverty Trends Between 1991 and 1994 By Pedro Francke Targeting indicators: Peru 1994 By Andrés Medina ; Pedro Francke The State, Public Expenditure, and Capacity Building: An Approach By Augusta Alfageme ; Judith Guabloche
Revista Estudios Económicos N° 01 EN December 1997 Considerations on the Explicit Inflation Targeting Framework By Hugo Perea ; Consuelo Soto The Reserve Surplus and Monetary Policy Transmission Mechanisms: An Approach By Vicente Tuesta ; Paul Bringas A. Monetary Policy and the Development of the Secondary Market for Central Reserve Bank of Peru Certificates of Deposit (1995–1996) By Susana Ishisaka The Peruvian stock market and the efficient market hypothesis By Alberto Humala ; Luis Manuel Delgado Seasonal adjustment of financial aggregates: 1991–1996 By Paul Castillo B. Seasonal adjustment of real aggregates By Guillermo Díaz
