Mar 2021
Author(s): Cavallo, Eduardo A.;Powell, Andrew
The year 2020 will be remembered as one of the most challenging in modern history. Latin America and the Caribbean lost 7.4% of GDP, the largest drop on record in a single year. The region is…
Mar 2021
Author(s): Cavallo, Eduardo A.;Powell, Andrew
El año 2020 será recordado como uno de los más difíciles de la historia moderna. América Latina y el Caribe experimentó una caída de 7,4% del PIBla mayor registrada en un solo año. Se prevé que la…
Feb 2021
Author(s): Beuermann, Diether;Schwartz, Moises;Reyes-Tagle, Gerardo;Silvani, Carlos;Ospina, Laura;Fajgenbaum, Jose;Loser, Claudio;Mooney, Henry;Prats Cabrera, Joan Oriol;Rosenblatt, David;Ter-Minassian, Teresa;Ossowski, Rolando;Giles Álvarez, Laura;Gauto, Victor;Khadan, Jeetendra;Zegarra, Maria Alejandra;De Haan, Jakob;Rojas-Suárez, Liliana;Beck, Thorsten
This volume focuses on economic institutions defined as rules and organizational arrangements that, if they govern the design and implementation of fiscal and monetary policies, can better align…
Dec 2020
Author(s): Andreasen, Eugenia;Nuguer, Victoria
This paper studies from an empirical and theoretical perspective the systemic and bank-level effects of imposing reserve requirements (RR) in foreign currency in an economy with a heavily dollarized…
Oct 2020
Author(s): Carrillo, Julio A.;Mendoza, Enrique G.;Nuguer, Victoria;Roldán-Peña, Jessica
Countries should have two different rules: a monetary policy rule for inefficiency in adjusting prices, and a financial policy rule for inefficiencies originating in financial markets. A two-rule…
Oct 2020
Author(s): Carrillo, Julio A.;Mendoza, Enrique G.;Nuguer, Victoria;Roldán-Peña, Jessica
Los países deberían tener dos reglas diferentes: una regla de política monetaria para la ineficiencia en el ajuste de precios y una regla de política financiera para las ineficiencias originadas en…
Sep 2020
Author(s): Powell, Andrew;Rojas-Suárez, Liliana
The COVID-19 crisis has already taken a large human and economic toll on Latin America and the Caribbean. Given the deep recessions, financial systems are likely to come under significant strain and…
Sep 2020
Author(s): Powell, Andrew;Rojas-Suárez, Liliana
La crisis de la COVID-19 ha cobrado un alto tributo humano y económico en América Latina y el Caribe. Dadas las profundas recesiones, es probable que los sistemas financieros se vean sometidos a una…
Aug 2020
Author(s): Nuguer, Victoria;Powell, Andrew
Over the past two decades, Latin America and the Caribbean made strides in boosting income levels and inclusion while reducing poverty. However, growth declined in recent years, thwarting the…
Aug 2020
Author(s): Nuguer, Victoria;Powell, Andrew
A lo largo de las dos últimas décadas, América Latina y el Caribe ha avanzado mucho en el aumento de los niveles de ingresos y la inclusión, al tiempo que ha reducido la pobreza. Sin embargo, el…
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…
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…
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…
Apr 2019
Author(s): Ayres, João;García, Marcio;Guillen, Diogo;Kehoe, Patrick
Brazil has had a long period of high inflation. It peaked at around 100 percent per year in 1964, decreased until the first oil shock (1973), but accelerated again after ward, reaching levels above…
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…
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…