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This paper analyses the coordination between monetary and fiscal policy in an emerging economy with an inflation-targeting monetary regime, in a context in which default risk shocks can lead to macroeconomic imbalances. It develops a macrodynamic model in order to capture the mechanisms of defaul...
The Latin American and Caribbean region will remember 1998 as one of the most problematic years of recent times. The severe effects of the international financial crisis that broke out in Asia in mid-1997 restricted the region's access to external financing. Tumbling export prices translated into...
Despite the instability in international financial markets in recent months and the turbulence it has created in Latin American stock markets, in 1997 the region's economies put out their best performance in a quarter of a century, combining an average growth rate of 5.3% (compared to 3.20% durin...
Uruguay ha realizado notables progresos durante el último decenio y la recuperación de la profunda crisis financiera de 2002 ha dado lugar al mayor periodo de crecimiento económico del país en décadas. Medidas macroeconómicas estables y un favorable entorno exterior han permitido un vivo crecimie...
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