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The effect of financial education on college students’ knowledge and behavior
(Pontificia Universidad Católica del PerúPE, 2023-11-27)There is a growing literature on the importance of adults’ financial education, especially in developed countries. The literature is scarcer in regards to assessing the effect of financial education programs on the ... -
Industrial Policies vs Public Goods under Asymmetric Information
(Pontificia Universidad Católica del PerúPE, 2023-08-23)This paper presents an analytical framework that captures the informational problems and tradeoffs that policy makers face when choosing between public goods (e.g., infrastructure) and industrial policies (e.g., firm or ... -
Preferential Trade Agreements and Productivity: Evidence from Peru
(Pontificia Universidad Católica del PerúPE, 2023-08-23)This paper analyzes the impact of reducing output tariffs (i.e., domestic tariffs on import of final goods) and input tariffs (i.e., domestic tariffs on imports of intermediate goods) on total factor productivity growth ... -
Small Firm Electricity Demand in Las Cruces, New Mexico, USA
(Pontificia Universidad Católica del PerúPE, 2023-08-23)Research examining small commercial and industrial electricity usage patterns have historically received less attention than residential electricity consumption patterns. This study examines electricity as an input to small ... -
Altitude and Distance Relationships with the Multidimensional Poverty Index: The case of Peru
(Pontificia Universidad Católica del PerúPE, 2023-08-23)This paper studies the potential association between two geographic indicators, distance and altitude, with the Multidimensional Poverty Index (MPI) for 1,874 district in Peru by using the National Census of 2017. We ... -
Poverty dynamics in Nairobi's slums; Testing for state dependence and heterogeneity effects
(Pontificia Universidad Católica del PerúPE, 2022-12-30)We investigate the factors underlying poverty transitions in Nairobi’s slums focusing on whether differences in characteristics make people more prone to enter poverty and persist in, or whether past experience of poverty ... -
Presentation: Special Issue of ECONOMÍA “Economic Inequality and Redistribution Policies”
(Pontificia Universidad Católica del PerúPE, 2022-12-30) -
Allocating an indivisible good. A questionnaire-experimental study of intercultural differences
(Pontificia Universidad Católica del PerúPE, 2022-12-30)Abstract We present the results of a questionnaire study in Belgium, Burkina Faso and Indonesia focusing on the problem of the just allocation of an indivisible good. The formal axioms proposed in social choice theory offer ... -
Mobility prospects and preferences for redistribution in Latin America
(Pontificia Universidad Católica del PerúPE, 2022-12-30)The present paper aims to provide evidence about the POUM hypothesis (prospects of upward mobility) in Latin America. It postulates that preferences for redistribution decrease with the prospects of upward mobility of ... -
Women Empowerment and Demand for Sexual and Reproductive Health Services
(Pontificia Universidad Católica del PerúPE, 2022-12-30)We analyze the effect of women's empowerment on their demand for reproductive and sexual health services. In particular, we explore their use of modern contraceptive methods, if the women have had an HIV screening and if ... -
Monetary Policy and Inequality under Household Heterogeneityand Incomplete Markets
(Pontificia Universidad Católica del PerúPE, 2022-12-30)Motivated by the empirical evidence of the effects of unanticipated nominal interest rate increases on the evolution of household inequality in Mexico, which highlight the importance of insurance mechanisms to deal with ... -
Implications of Endogenous Money Growth for Some Tests of Superneutrality and the Fisher Effect
(Pontificia Universidad Católica del PerúPE, 2022-08-01)Superneutrality of money and the Fisher Effect are well-known theoretical propositions. Empirical tests of long-run versions of these hypotheses have sometimes been done by estimating how a variable responds to a permanent ... -
Some Long-Run Correlations of Inflation in Developed Countries
(Pontificia Universidad Católica del PerúPE, 2022-08-01)Using 100+ years of data from 18 developed countries, we use a frequency domain technique to compute “long-run” correlations between inflation on the one hand and money growth and nominal interest rates on the other. The ... -
Flexible Average Inflation Targeting: How Much Is U.S. Monetary Policy Changing?
(Pontificia Universidad Católica del PerúPE, 2022-08-01)One major outcome of the Federal Reserve’s 2019–20 framework review was the adoption of a Flexible Average Inflation Targeting (FAIT) strategy in August 2020. Using synthetic control methods, we document that U.S. inflation ... -
Searching for the Best Inflation Forecasters within an Employment Survey: Microdata Evidence from Chile
(Pontificia Universidad Católica del PerúPE, 2022-08-01)This article aims to evaluate quantitative inflation forecasts for the Chilean economy, taking advantage of a specific survey of consumer perceptions at the individual microdata level, which, at the same time, is linked ... -
A Power Booster Factor for Out-of-Sample Tests of Predictability
(Pontificia Universidad Católica del PerúPE, 2022-08-01)In this paper we introduce a “power booster factor” for out-of-sample tests of predictability. The relevant econometric environment is one in which the econometrician wants to compare the population Mean Squared Prediction ... -
Low Inflation Bends the Phillips Curve around the World
(Pontificia Universidad Católica del PerúPE, 2022-08-01)This paper finds strong support for a Phillips curve that becomes nonlinear when inflation is “low”—which our baseline model defines as less than 3 percent. The nonlinear curve is steep when output is above potential (slack ... -
Conditional vs Unconditional Quantile Regression Models: A Guide to Practitioners
(Pontificia Universidad Católica del PerúPE, 2021-12-31)This paper analyzes two econometric tools that are used to evaluate distributional effects, conditional quantile regression (CQR) and unconditional quantile regression (UQR). Our main objective is to shed light on the ... -
Presentation
(Pontificia Universidad Católica del PerúPE, 2021-12-31)Presentation to the Special Issue -
Is it Time to Reassess the Focal Role of Core PCE Inflation in Assessing the Trend in PCE Inflation?
(Pontificia Universidad Católica del PerúPE, 2022-08-01)“Core” PCE inflation—that is, inflation in PCE-ex-food-and-energy—is widely used as an estimate of trend inflation. But it is long overdue for replacement. The original rationale of core inflation was to remove volatile ...
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