Oct 2020
Author(s): Khadan, Jeetendra
Suriname is facing severe macroeconomic disequilibrium characterized by large fiscal and external imbalances and a sharp decline in economic growth. Although the country is in a precarious economic…
Aug 2020
Author(s): Cavallo, Eduardo A.; Izquierdo, Alejandro; León, John Jairo
Sudden stops in net capital flows can be prevented if domestic investors either repatriate foreign-held assets or roll over their local asset holdings when foreign investors stop lending or sell off…
Jun 2020
Author(s): Díaz Cassou, Javier; Carrillo Maldonado, Paul A.; Moreno, Kenji
El COVID-19 ha originado una superposición de choques adversos de distinta naturaleza que tendrán un fuerte impacto sobre la región andina. Esta nota analiza la dimensión externa de la crisis,…
Mar 2020
Author(s): Deyal, Zubin; Smets, Lodewijk
Over the past three decades, fiscal rules have increasingly been used as a tool to promote fiscal responsibility and macroeconomic stability. In principle, fiscal rules have numerous benefits,…
Feb 2020
Author(s): Ventosa-Santaulària, Daniel; Rodríguez Caballero, Carlos Vladimir; López, Arnoldo
This paper analyzes the effect on the level and volatility of the Central American countries' exchange rates of transferring remittances through central banks. Given the importance of…
Dec 2019
Author(s): Ayres, João; Hevia, Constantino; Nicolini, Juan Pablo
This paper shows that there is substantial comovement between prices of primary commodities such as oil, aluminum, maize, or copper and real exchange rates between developed economies such as Germany…
Nov 2019
Author(s): Monteverde, Hugo; Pereyra, Andrés
El documento analiza la complejidad que encierra el concepto de sobrecostos de un proyecto de infraestructura. En primer lugar, se discute la forma en que se selecciona la estimación inicial contra…
Oct 2019
Author(s): Carrillo Maldonado, Paul A.; Díaz Cassou, Javier
This paper applies an agnostic structural vector autoregression (SVAR) approach to study the response of four Andean economies (Bolivia, Colombia, Ecuador, and Peru) to international shocks. More…
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…
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…
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
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:…
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…
Nov 2016
Author(s): Giordano, Paolo; Ramos Martínez, Alejandro
The Trade and Integration Monitor 2016 analyzes the different aspects of a downshifting in world trade and its effects on Latin America and the Caribbean (LAC). This is the most recent edition of a…
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-…