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Does the Central Bank of Peru Respond to Exchange Rate Movements? A Bayesian Estimation of a New Keynesian DSGE Model with FX Interventions
(Pontificia Universidad Católica del Perú. Departamento de Economía, 2021-12)
This paper assess the role played by the exchange rate and FX intervention in setting monetary
policy interest rates in Peru. We estimate a Taylor rule that includes inflation, output gap and
the exchange rate using a ...
Teaching Modern Macroeconomics in the Mundell-Fleming Language: The IS-MPR-UIP-AD-AS Model
(Pontificia Universidad Católica del Perú. Departamento de Economía, 2017-09)
The traditional open aggregate demand and aggregate supply model backed by the Mundell-Fleming model, together with the supply curve that relates the price level to the output gap, should be abandoned in undergraduate ...
Una alternativa al IS-LM-AD-AS: El modelo IS-MR-AD-AS
(Pontificia Universidad Católica del Perú. Departamento de Economía, 2016-12)
El modelo IS-LM-AD-AS tradicional debe ser abandonado de la enseñanza de Macroeconomía. Primero, porque las economías no retornan automáticamente al equilibrio, luego que algún choque los saca de él. Segundo, porque los ...