Journal of CENTRUM Cathedra. Vol. 01, Issue 02

URI permanente para esta colecciónhttp://54.81.141.168/handle/123456789/194725

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JCC Volume 1 - Issue 2 - 2008
  • Assessing Theory and Practice in Competitive Strategy: Challenges and Future Directions Parnell, John A; 1
  • The Asymmetric Effects of Monetary Policy in General Equilibrium Castillo, Paul; Montoro, Carlos; 2
  • TQM Practices in Manufacturing and Service Companies in Peru Pino, Ricardo M; 3
  • Net Foreign Assets and Imperfect Financial Integration: An Empirical Approach Selaive, Jorge; Tuesta, Vicente; 4
  • The Godfathers: Characteristics and Roles of Central Individuals in the Transformation of Techno-Regions Phillips, Fred Y; 5
  • On the Normality of Stock Return Distributions: Latin American Markets, 2000-2007 Chion, Sergio J; Veliz C., Carlos N; 6
  • Is Efficiency the Equivalent to a High Rate of Return for Private Pension Funds? Evidence from Latin American Countries Guillen, Jorge B; 7

    • Doctoral Research Proposal
  • Regulation, Monitoring, and Ownership Influence the Quality of Service of Latin American Electric Distribution Utilities: A Doctoral Research Proposal Revolo, Miguel J; 1
  • Assessing Rural Community Empowerment: What it takes to Think Innovatively A Doctoral Research Proposal Lopez, Lucy H; 2

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      The Asymmetric Effects of Monetary Policy in General Equilibrium
      (Pontificia Universidad Católica del Perú. CENTRUM, 2008) Castillo, Paul; Montoro, Carlos
      The study involved extending a dynamic general equilibrium neoKeynesian model by considering preferences that exhibit intertemporal nonhomotheticity. Introducing this feature generates a state-dependent intertemporal elasticity of substitution, which induces asymmetric shifts in aggregate demand in response to monetary policy shocks. The effect, in combination with a convex Phillips curve, generates in equilibrium asymmetric responses in output and inflation to monetary policy shocks similar to those observed in the data. In particular, a higher response of both output and inflation to policy shocks exists when economy growth is temporarily high than temporarily low.