(Pontificia Universidad Católica del Perú. Fondo Editorial, 2011) Rojas, Jorge
Although in the debate over the current financial crisis there is a general agreement on the role played by foreign capital inflows into the United States —that, together with financial deregulation, allowed for an excessive increase of credit in that country—, we think that their importance has not been fully appreciated, in terms of their link with the asymmetrical organization of an international monetary system that uses the dollar as a reserve currency, and their relationship with the economic growth model adopted by the US over the last thirty years; this relied on increased expenditure on the part of credit-financed households in order to maintain its dynamism, while inflation was kept down by importing cheap foreign manufactures at the expense of the domestic sector’s profitability. We suggest here that the crisis was related to the impossibility of maintaining this economic growth pattern indefinitely, and that recovery will require a radical reform of the international monetary system, as well as a general increase in economic efficiency.
(Pontificia Universidad Católica del Perú. Fondo Editorial, 2011) Iguíñiz Echeverria, Javier María
Freedom to compete in the market: resources, processes, and resultsHerein we analyze three concepts of market competition. Although the different aspects of freedom can be appreciated in each one of them, they make an especial contribution to some of them. We propose that the ‘neoclassical general equilibrium’ chiefly contributes to the discussion of the outcomes of an economic activity; the ‘barriers to entry’ approach calls for a study of the resources necessary to compete; and the ‘competition as a process’ approach emphasizes the competitive activity itself. Moreover, as we move from the first onwards, enriching the meaning of competition, the possibility of losing opportunities to participate in the market becomes more evident. Entry and exit are part of the competitive process. Each concept of competition responds to theories that specify or allude to certain types and distribution of economic agents’ freedoms to manoeuvre. Throughout this study, we often quote Amartya Sen with the purpose of buildingbridges between the study of competition and the approach of ‘development as freedom.
(Pontificia Universidad Católica del Perú. Fondo Editorial, 2011) Prieto Tejeiro, Enrique; Haro Romero, Dionisio de
The landlord system and the limits of liberal Spanish monetary policy in the first half of the 19th centuryThis paper aims to deepen the understanding of the transition from traditional to modern monetary systems and its impact on economic growth in the Spanish economy over the first half of the nineteenth century. The main sources on which the study of this period’s monetary policy is based, are, among others, the proceedings of the parliamentary committee; during the Trienio Liberal, these related to a draft for the complete reform of the monetary system inherited from the Antiguo régimen, whose results would be constrained by three factors: firstly, by the persistence of traditional institutions; secondly, by difficulties in linking this monetary reform with the discussions that were taking place in the more developed countries, particularly in England; and, thirdly, the short duration of the period in which it took place, and the restoration of the old monetary policy with the Tarifa de Tolosa in 1823.
(Pontificia Universidad Católica del Perú. Fondo Editorial, 2011) Uribe Mantilla, Silvia; Múñoz Molina, Yaromir; López Alvarez, Gustavo
El artículo presenta un análisis de los efectos de la aplicación del sistema tarifario multiusuario de saneamiento en las unidades residenciales de estratos altos de la ciudad de Medellín. La metodología utilizada combina lo cualitativo con lo cuantitativo. En la parte cuantitativa se hace una descripción de resultados y se modelizan, desde una perspectiva económica, los efectos encontrados.Se resaltan los logros en cuanto a la disminución de la tasa de saneamiento y los efectos positivos en la reducción de desechos. Se discuten, finalmente, aspectos relativos a programas complementarios como el uso de mercadeo social para promover la disminución tanto en la parte industrial como residencial.
(Pontificia Universidad Católica del Perú. Fondo Editorial, 2011) Tello, Mario D.
Creation and destruction of jobs in Peru’s manufacturing sector: 2002-2007By way of a set of productive factors from a sample of manufacturing firms that created and destroyed jobs in Peru’s formal manufacturing sector for the period 2002-2007, this paper estimates the conditional labor demand equation under three interpretations. The results of these assessments suggest that job creation and destruction were statistically related to positive and negative changes of real output respectively. However, the rates of change of these job flows were lower than those of the real output value. On the other hand, job flows were positively associated with firms’ degrees of processing. Other minor factors associated with job flows were the size of firms and the capital-labor ratio.
