Apr 2019
Author(s): Ayres, João; García, Marcio; Guillen, Diogo; Kehoe, Patrick
Brazil has had a long period of high inflation. It peaked around 100 percent per year in 1964, decreased until the first oil shock (1973), but accelerated again afterward, reaching levels above 100…
Jan 2019
Author(s): Astudillo, Jhonatan A.; Linares, Jennifer; Manzano, Osmel; López, Arnoldo; Ruiz-Arranz, Marta; Garcimartín, Carlos; Ochoa, Elizabeth; Pagliacci, Carolina; Martínez, André; Solorzano, José
This report describes the current situation of the region of Central America and the Dominican Republic and its outlook for 2019. It also analyzes the recent reduction in the food price pattern and…
Jan 2019
Author(s): Astudillo, Jhonatan A.; Linares, Jennifer; Manzano, Osmel; López, Arnoldo; Ruiz-Arranz, Marta; Garcimartín, Carlos; Ochoa, Elizabeth; Pagliacci, Carolina; Martínez, André; Solorzano, José
Este reporte macroeconómico para Centroamérica y República Dominicana describe en profundidad y con datos a nivel nacional y global la coyuntura que está viviendo la región y su perspectiva para 2019…
Dec 2018
Author(s): Schmid, Juan Pedro; Schwartz, Moises; Zegarra, Maria Alejandra; Wright, Allan; Giles Álvarez, Laura; Waithe, Kimberly; Gauto, Victor; Bollers, Elton; Mooney, Henry; Khadan, Jeetendra; Smets, Lodewijk
The divergence in the development of the countries that correspond to the Inter-American Development Bank’s Caribbean Country Department and the Organisation of Eastern Caribbean States (OECS)…
Nov 2018
Author(s): Ruiz-Arranz, Marta; Díaz Cassou, Javier
Una vez superada la crisis financiera de finales del siglo pasado, Ecuador se adentró en una prolongada etapa de crecimiento económico que permitió reducir la incidencia de la pobreza a mínimos…
Sep 2018
Author(s): Schmid, Juan Pedro; Wright, Allan; Bollers, Elton; Khadan, Jeetendra; Smets, Lodewijk; Mooney, Henry; Giles Álvarez, Laura; Schwartz, Moises; Waithe, Kimberly; Deyal, Zubin; Gauto, Victor
While countries in the Caribbean are highly diverse, several common development challenges emerge, including weak fiscal institutions, crime and violence, a sluggish private sector, weak productive…
Aug 2018
Author(s): Rossi, José Luiz
This paper studies the predictive power of several proxies for liquidity in forecasting exchange rates for a set of countries from January 2001 to April 2013. The results indicate that changes in…
Jul 2018
Author(s): Alonso, Pablo
The establishment of the inflation targeting regime in Paraguay is relatively recent, however, the results have been satisfactory. This is because based on the observed data, from the implementation…
Apr 2018
Author(s): Finkelstein-Shapiro, Alan; González Gómez, Andrés; Nuguer, Victoria; Roldán-Peña, Jessica
We use a novel dataset that merges goods-level prices underlying the CPI in Mexico with the balance sheet information of Mexican publicly listed firms and study the connection between firms'…
Sep 2017
Author(s): Fernandez, Andres; Imrohoroglu, Ayse; Tamayo, Cesar
Latin American countries have long exhibited low levels of saving rates when compared to other countries in relatively similar stages of economic development (e.g., Asian economies). Motivated by…
Jun 2017
Author(s): Fernandez, Andres; Schmitt-Grohé, Stephanie; Uribe, Martin
SVAR models that include a single world price (such as the terms-of-trade) predict that world shocks explain a small fraction of movements in domestic output (typically less than 10 percent). This…
May 2017
Author(s): Carrillo, Julio A.; Mendoza, Enrique G.; Nuguer, Victoria; Roldán-Peña, Jessica
Quantitative analysis of a New Keynesian model with the Bernanke-Gertler accelerator and risk shocks shows that violations of Tinbergen's Rule and strategic interaction between policymaking…
Apr 2017
Author(s): Bucacos, Elizabeth
This study analyzes the effects of "financial stress" on the Uruguayan macroeconomy in the 1998Q3-2016Q2 period with the underlying idea that financial shocks propagate differently during…
Dec 2016
Author(s): Andrian, Leandro Gaston; Avellán, Leopoldo
El producto potencial y la brecha del producto son conceptos comúnmente utilizados para informar el ejercicio de las políticas monetaria y fiscal, así como para el análisis del desempeño del sistema…
Nov 2016
Author(s): Inter-American Development Bank (IDB)
The IDB's interactive data portal CaribbeanEconomics.org presents microeconomic data collected through primary data collection, and macroeconomic data compiled from various public sources.…
Aug 2016
Author(s): Cavallo, Eduardo A.; Eichengreen, Barry; Panizza, Ugo
A surprisingly large number of countries have been able to finance a significant fraction of domestic investment using foreign finance for extended periods. While many of these episodes are in low-…
Jun 2016
Author(s): Cavallo, Eduardo A.; Fernández-Arias, Eduardo; Marzani, Matías
This paper shows, using probit analysis, that low national savings increase the risk of macroeconomic crisis. Foreign savings are a poor substitute of national savings not only for domestic…
Jun 2016
Author(s): Cavallo, Eduardo A.
Why should people -and economies- save? The typical answer usually focuses on the need to protect against future shocks, to smooth consumption during hard times, in short, to save for the proverbial…
Jun 2016
Author(s): Cavallo, Eduardo A.
Savings in an economy matter for development. At the macro level, savings determine how much a country can invest, and they have implications for growth and economic stability. At the individual…
Jun 2016
Author(s): Cavallo, Eduardo A.
In advanced economies, the vast majority of savings are intermediated through formal financial instruments. This intermediation can take one of three forms: direct financing, with individuals holding…