La economía peruana ha venido creciendo sostenidamente en los últimos 15 años. Verificar si los departamentos (o regiones) han logrado un proceso de convergencia ya sea hacia un solo estado estacionario o a su propio estado ...

This paper has four objectives. Firstly, to verify the existence of long-term relationships between the groups of variables analyzed (product, consumption, private investment, public investment, and terms of trade). Secondly, ...

This study is one of the first to utilize the SV model to model Peruvian financial series, as well as estimating and comparing with GARCH models with normal and t-student errors. The analysis in this study corresponds to ...

Empirical research indicates that the volatility of stock return time series have long memory. However, it has been demonstrated that short memory processes contaminated with random level shifts can often be confused as ...

Este documento analiza y usa dos versiones del Teorema del Límite Central Funcional y su aplicación al contexto de raices unitarias con un quiebre estructural. La atención inicial se enfoca en la estructura probabilística ...

This paper analyzes whether the exchange rate pass-through into prices changed when the inflation targeting scheme was adopted in Peru. Firstly, a small dynamic stochastic general equilibrium model is simulated, which shows ...

In a recent paper, Fajardo et al. (2009) propose an alternative semiparametric estimator of the fractional parameter in ARFIMA models which is robust to the presence of additive outliers. The results are very interesting; ...

This study has two aims. First, to establish the main features of labor mobility; and second, to analyze the determinants of the main transitions between states of occupation. In order to achieve the first objective, we ...

We analyze di¤erent residual-based tests for the null of no cointegration using GLS detrended data. We find and simulate the limiting distributions of these statistics when GLS demeaned and GLS detrended data are used. The ...

In this paper we study how inflation expectations are formed and whether these change due to the occurrence of policy shifts or structural breaks. We conduct 4 experiments with 75 inexperienced subjects, in which we ask ...