Shocks de precios internacionales bajo incertidumbre estocástica

Alarcon Gambarte, Samuel (2019): Shocks de precios internacionales bajo incertidumbre estocástica. Published in: Latin American Journal of Economic Development , Vol. 32, (November 2019): pp. 57-93.

Abstract

Latin America has experienced a context of high volatility in its terms of trade during recent years. To analyze this phenomenon, a new way of modeling external prices that seeks to capture the uncertainty of the international market is provided. A stochastic dynamic general equilibrium model is constructed and estimated with data from Bolivia. Finally, a simulation is carried out introducing an export price shock and analyzing three different scenarios: Conventional, under persistence shock and variance shock. It is analyzed the macroeconomic mechanisms of transmission in the face of external shocks and how economic agents react to changes in uncertainty.

• Item Type: MPRA Paper
• English Title: International Prices Shocks under Stochastic Uncertainty
• Language: Spanish
• Keywords: Macroeconomía de la Economía Abierta, Fluctuaciones y Ciclo Económico. Macroeconomics of the Open Economy, Fluctuations and Economic Cycle.
• Subjects: E - Macroeconomics and Monetary Economics > E3 - Prices, Business Fluctuations, and Cycles > E32 - Business Fluctuations ; Cycles; F - International Economics > F4 - Macroeconomic Aspects of International Trade and Finance; F - International Economics > F4 - Macroeconomic Aspects of International Trade and Finance > F41 - Open Economy Macroeconomics

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