Dirty Float, Commodity Prices, and Macroeconomic Fluctuations: A Model for Peru
This paper presents a macroeconomic model that replicates the key stylized facts of the Peruvian economy, namely the strong dependence of private investment and GDP on mineral export prices, within a framework where the Central Reserve Bank of Peru (BCRP) operates under a dirty float regime and the...
| Autores: | , |
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| Tipo de recurso: | artículo |
| Fecha de publicación: | 2024 |
| País: | Perú |
| Institución: | Pontificia Universidad Católica del Perú |
| Repositorio: | PUCP-Institucional |
| Idioma: | inglés |
| OAI Identifier: | oai:repositorio.pucp.edu.pe:20.500.14657/203830 |
| Acceso en línea: | https://revistas.pucp.edu.pe/index.php/economia/article/view/31204/27513 http://hdl.handle.net/20.500.14657/203830 https://doi.org/10.18800/economia.202402.004 |
| Access Level: | acceso abierto |
| Palabra clave: | Dirty float Commodities Macroeconomic fluctuations https://purl.org/pe-repo/ocde/ford#5.02.01 |
| Sumario: | This paper presents a macroeconomic model that replicates the key stylized facts of the Peruvian economy, namely the strong dependence of private investment and GDP on mineral export prices, within a framework where the Central Reserve Bank of Peru (BCRP) operates under a dirty float regime and the Ministry of Economy and Finance (MEF) follows fiscal rules that endogenize public spending. The model is designed for undergraduate students and instructors of economics and builds on the work of Dancourt (2009), Dancourt Mendoza (2016), and Mendoza (2019). |
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