Un Marco de Consistencia Macroeconómica para la Economía Ecuatoriana: Un Regreso a los Fundamentos

Gachet, Ivan and Girjalva, Diego and Rivadeneira, Ana and Uribe, Carlos (2007): Un Marco de Consistencia Macroeconómica para la Economía Ecuatoriana: Un Regreso a los Fundamentos. Published in: Cuestiones Económicas , Vol. 23, No. 3 (2007): pp. 5-65.

Abstract

This document presents a Macroeconomic Consistency Model for a dollarized economy such as Ecuador. Based on a simply accounting framework that combined the social accounting matrix with the flow of funds, we integrate the different sectors of the economics through a matrix of income, expenditure, saving, and asset and liability accumulation. This is done by using Easterly's (1989) Consistency Accounting Matrix which specifies the linkages between sources and uses of funds as well as between institutional sector accounts. This approach ensures the numerical consistency of data drawn from different sources in such a way that, both, the sectoral budget constraints as well as the overall economy-wide budget constraints are simultaneously satisfied. From this model we were able to estimate the liquidity of the economy, the actual amount of government subsidies, and the gaps in the Ecuadorian economy.

• Item Type: MPRA Paper
• English Title: Macroeconomic Consistency Framework for the Ecuadorian Economy: Getting Back to Fundamentals
• Language: Spanish
• Keywords: Macroeconomics, Financial Programing, Macroeconomic Consistency
• Subjects: E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E58 - Central Banks and Their Policies; B - History of Economic Thought, Methodology, and Heterodox Approaches > B2 - History of Economic Thought since 1925 > B22 - Macroeconomics; E - Macroeconomics and Monetary Economics > E6 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook > E60 - General

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