Macroeconomía y Finanzas

Are inflation forecasts rational? A discussion on the BCU Outlook Survey basis

The rational expectations hypothesis has represented a key methodological advance in the study of economic problems in which agents must predict unknown variables. Although...

The efficiency of monetary policy as a stabilization tool in Uruguay

"There is evidence that the level of activity and inflation in Uruguay have shown, in recent years, more stable than observed two decades ago....

Did Uruguay experience the Great Moderation ? A structural change analysis

This paper studies the evolution of product volatility and inflation in Uruguay between 1985 and 2009, with the aim of analyzing whether Uruguay is...

Fiscal sustainability in Uruguay in an international crisis context

The recent financial shock transmitted to the Uruguayan economy from international financial markets will generate various macroeconomic consequences; These include the effects on fiscal...

The output gap in Uruguay: estimation methodologies and applications

The estimation of the product gap constitutes a tool of wide application by macroeconomic analysts and by policy makers to achieve and monitor macroeconomic...

Financial integration in MERCOSUR

This research seeks to answer the following questions: what is the degree of financial integration of MERCOSUR countries? What is the degree of development...

The Uruguayan financial system and the financial integration in MERCOSUR

This work aims to assess the current situation of the Uruguayan financial system with the ultimate objective of drawing conclusions about the conditions in...

De Jure and de Facto Flotation? Monetary-Exchange policy in the post crisis period in Uruguay

In 2002 Uruguay abandoned the stabilization plan based on exchange bands that had guided the country's monetary policy for more than a decade. This...

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