Apr 2019
Author(s): Ayres, João; Hevia, Constantino; Nicolini, Juan Pablo
In this paper, we show that a substantial fraction of the volatility of real exchange rates between developed economies such as Germany, Japan, and the United Kingdom against the US dollar can be…
Mar 2019
Author(s): Abad, Julieta; Tarre, Alejandro; Serebrisky, Tomás; Suárez-Alemán, Ancor; Morales, Olga
A través de esta serie de casos de estudio, el Departamento de Infraestructura y Energía del BID pretende dar a conocer su trabajo en la región, los problemas que aborda, los retos en la…
Oct 2018
Author(s): López, Arnoldo; Ventosa-Santaulària, Daniel
Over the last three decades, Mexico’s macroeconomic policy has been driven by a sound orthodox strategy: an open economy via many trade agreements signed since the mid-1980s, a nominal exchange rate…
May 2018
Author(s): Stein, Ernesto H.; Fernandez, Andres
We develop a methodology to construct real effective exchange rates that incorporate two distinctive elements not accounted for in the traditional measures: i) competition in third markets and ii)…
Apr 2017
Author(s): Mesquita Moreira, Mauricio; Pierola, Martha Denisse; Sánchez-Navarro, Dennis
This paper assesses the LAC's import substitution response to the recent wave of currency devaluations. For this purpose, this document uses both descriptive data and a simple econometric model…
Apr 2017
Author(s): Inter-American Development Bank (IDB)
This report is the second of two volumes which together constitute the Inter-American Development Bank's 2016 Annual Report. This report contains the management's discussion and analysis of…
Apr 2017
Author(s): Banco Interamericano de Desarrollo (BID)
Este es el segundo de dos volúmenes que constituyen el Informe Anual del Banco Interamericano de Desarrollo (BID) 2016. El presente volumen contiene la discusión y análisis de la Administración:…
Jan 2017
Author(s): Valle, Mauricio Ribeiro do; Toneto Junior, Rudinei; Vieira Cicogna, Maria Paula; Tarantin Junior, Wilson
This paper shows that exchange rate depreciation has a negative effect on the balance sheet of Brazilian companies with foreign indebtedness; this effect stems mainly from the negative correlation…
Dec 2016
Author(s): Khadan, Jeetendra
Energy revenues represent roughly 45 percent of Trinidad and Tobago's GDP and are highly volatile since they are correlated with the price of oil and gas. Hence, sharp changes in energy prices,…
Nov 2016
Author(s): Giordano, Paolo; Ramos Martínez, Alejandro
El Monitor de Comercio e Integración 2016 analiza distintos aspectos del cambio de marcha del comercio mundial y sus efectos para la región. Esta edición es la más reciente de una serie de informes…
Oct 2016
Author(s): Khadan, Jeetendra; Ruprah, Inder J.
Economic diversification is an incessant theme threading policy discussion in Trinidad and Tobago, although with an ebb and flow over time. This topic is once again at the forefront of policy…
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-…
Apr 2016
Author(s): Powell, Andrew
The commodities boom that once buoyed the regions economies is over, and countries have less fiscal space to undertake counter-cyclical policies than they did during the global financial crisis.…
Apr 2016
Author(s): Powell, Andrew
El auge de las materias primas que en un determinado momento benefició las economías de la región ha acabado, y los países tienen menos espacio fiscal para emprender políticas contracíclicas que…
Mar 2016
Author(s): Cruces, Juan José
This paper measures the flow of funds into the real estate sector for the city of Buenos Aires since 1992 and compares it to traditional savings instruments. For each dollar that went into the city…
Feb 2016
Author(s): Díaz, Manuel; Clerc, Jacques
El objetivo general del estudio es revisar la literatura internacional y las mejores prácticas para desarrollar un marco metodológico capaz de cuantificar el aumento de las inversiones requeridas…
Feb 2016
Author(s): Maldonado, Leonardo; Manzano, Osmel; Lagarda, Guillermo; Quijada, José Alejandro
Central America and the Dominican Republic are enjoying a favorable external environment. The U.S. economic recovery, the main trade partner of the region, and the marked fall in oil prices has made…
Feb 2016
Author(s): Maldonado, Leonardo; Manzano, Osmel; Lagarda, Guillermo; Quijada, José Alejandro
Centroamérica y la República Dominicana experimentan un contexto externo favorable. La recuperación de Estados Unidos, principal socio comercial, y la significativa reducción del precio del petróleo…
Oct 2015
Author(s): García, Yocauris; Quijada, José Alejandro
Este trabajo identifica los determinantes del tipo de cambio real de equilibrio de Honduras y su desalineamiento durante el periodo 1990-2013. Para ello derivamos el tipo de cambio real de equilibrio…
Aug 2015
Author(s): Munyo, Ignacio; Rossi, Martín
In this paper, we bring to light the experiences resulting from the significant depreciation of the Uruguayan real exchange rate between 2002 and 2003, followed by an equally considerable…