Munich Personal RePEc Archive

Hechos Estilizados de la Economía Ecuatoriana: El Ciclo Económico 1965-2008

Gachet, Ivan and Maldonado, Diego and Oliva, Nicolas and Ramirez, Jose (2011): Hechos Estilizados de la Economía Ecuatoriana: El Ciclo Económico 1965-2008.

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Abstract

This paper presents some short-term and long term stylized facts of the Ecuadorian economy, and gives a brief explanation of the circumstances under which these empirical regularities developed. To do so, we analyze macroeconomic aggregates from the real and fiscal sectors, and examine price variables in relation to the economic cycle. It is difficult have a high quality quarterly series in real terms for all variables so we use both quarterly and monthly time series. In the case of monthly data, we make use of the Index of Economic Activity (IDEAC, Spanish acronym) as a proxy for the GDP. The ultimate goal of this paper is to identify the interrelation of key macroeconomic variables and to lay down the empirical basis for the development of dynamic models consistent with the behavior of the Ecuadorian economy.

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