Apr 2020
Author(s): Ayres, João; Raveendranathan, Gajendran
We analyze a general equilibrium model of firm dynamics to study the effects of shocks to productivity, labor wedge, and collateral constraint (credit shock) on firm exit. We find that only the…
Apr 2020
Author(s): Nuguer, Victoria; Powell, Andrew
The novel coronavirus is taking a huge toll across the world, and governments in Latin America and the Caribbean are right to take aggressive measures to save lives. Within a matter of weeks, the…
Apr 2020
Author(s): Nuguer, Victoria; Powell, Andrew
El novedoso coronavirus está cobrando un gran número de víctimas en todo el mundo, y los gobiernos de América Latina y el Caribe están tomando medidas agresivas para salvar vidas. En cuestión de…
Dec 2019
Author(s): Rosenblatt, David; Schmid, Juan Pedro; Wright, Allan; Bollers, Elton; Khadan, Jeetendra; Amann, Edmund; Mooney, Henry; Giles Álvarez, Laura; Waithe, Kimberly; Gauto, Victor; Christie, Jason
The divergence in the development of the countries that correspond to the Inter-American Development Banks Caribbean Country Department and the Organisation of Eastern Caribbean States (OECS)…
Nov 2019
Author(s): Carrillo, Julio A.; Nuguer, Victoria; Mendoza, Enrique G.; Roldán-Peña, Jessica
Violations of Tinbergen’s Rule and strategic interaction undermine monetary and financial policies significantly in a New Keynesian model with the Bernanke-Gertler accelerator. Welfare costs of risk…
Jun 2019
Author(s): Bernales, Alejandro; Beuermann, Diether; Cumming, Douglas; Olid, Christian
Relatively little is known about the effects of blue-collar crime (theft, robbery, vandalism or arson) on financial decisions. Previous literature has focused its attention either on 'regional…
Jun 2018
Author(s): Fuertes, Alberto; Gimeno, Ricardo; Marqués, José Manuel
In this paper we estimate inflation expectations for several Latin American countries using an affine model that takes as factors the observed inflation and the parameters generated from zero-coupon…
Apr 2017
Author(s): Chirinos-Leañez, Ana María; Pagliacci, Carolina
This paper evaluates whether fiscal and foreign exchange policy shocks canexplain both credit and credit supply in Venezuela. Empirical evidence suggests that between 65 and 90 percent of credit…
Apr 2017
Author(s): Inter American Development Bank
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
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:…
Feb 2017
Author(s): Alvarez, Roberto; Hansen, Erwin
This paper examines a panel (1994-2014) of Chilean non-financial firms, both publicly listed and private, which was built to analyze the determinants of the use of foreign currency debt and their…
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): Schmid, Juan Pedro
Jamaica entered the world economic downturn in 2008 from a position of ongoing weak economic performance and high, increasing debt levels. As a result, Jamaica's fiscal situation quickly became…
Dec 2016
Author(s): García-Cicco, Javier; Kawamura, Enrique
This paper empirically tests the effects of foreign currency debt on economic performance and investment behavior in non-financial firms in six Latin America and Caribbean countries. It is found find…
Oct 2016
Author(s): Barajas, Adolfo; Restrepo, Sergio; Steiner, Roberto; Medellín, Juan Camilo; Pabón, César
After building up foreign currency-denominated (FC) liabilities over several years, the balance sheets of Colombian firms might be particularly vulnerable to a shift in external conditions. This…
Oct 2016
Author(s): Trujillo, Verónica; Navajas, Sergio
This report seeks to facilitate a deeper understanding of the financial systems in the region, combining aspects of sustainability and financial inclusion. The 2016 report includes information from…
Oct 2016
Author(s): Trujillo, Verónica; Navajas, Sergio
Este reporte busca dar a conocer más a detalle los sistemas financieros de la región, combinando aspectos de sostenibilidad e inclusión financiera. El reporte comprende información de 20 países de la…
Sep 2016
Author(s): Khadan, Jeetendra; Ruprah, Inder J.; Schmid, Juan Pedro; Wright, Allan; Gomez Osorio, Camillo; Waithe, Kimberly; Wenner, Mark D.; Clarke, Dillon; Thomas, Chrystol; Pradelli, Juan Jose; Okey, Onoh-Obasi
British voters surprised the world when they voted to leave the European Union in June 2016. Markets reacted heavily to the surprise, resulting in high volatility in all major stock indices as well…
Aug 2016
Author(s): Chang, Roberto; Fernandez, Andres; Gulan, Adam
Corporate sectors in emerging markets have noticeably increased their reliance on foreign financing, presumably reflecting low global interest rates. The evidence also shows a rebalancing from bank…
Aug 2016
Author(s): Caballero, Julián; Fernandez, Andres; Park, Jongho
This paper studies the influence of external financial factors on economic activity in emerging economies (EMEs) motivated by a considerable increase in foreign financing by the corporate sector in…