Feb 2013
Author(s): Céspedes, Luis Felipe; Chang, Roberto; Velasco, Andrés
This paper reviews the recent experience of a half-dozen Latin American inflation targeting (IT) nations. Repeated and large deviations from the standard IT framework are documented: exchange market…
Nov 2006
Author(s): Cavallo, Eduardo A.; Velasco, Andrés
The paper explores the incidence of sudden stops in capital flows on the incentives for building national institutions that secure property rights in a world where sovereign defaults are possible…
Oct 2004
Author(s): Micco, Alejandro; Panizza, Ugo; Yañez, Mónica
This paper builds a new dataset on bank ownership and bank performance covering approximately 50,000 observations for 119 countries over the 1995-2002 period. The paper then uses the dataset to…