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...

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Detalles Bibliográficos
Autores: Mendoza, Waldo, Vilca, Rafael
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
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spelling 2025-06-02T17:08:26Z2024-12-27https://revistas.pucp.edu.pe/index.php/economia/article/view/31204/27513http://hdl.handle.net/20.500.14657/203830https://doi.org/10.18800/economia.202402.004This 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).application/pdfengPontificia Universidad Católica del PerúPEurn:issn:2304-4306urn:issn:0254-4415info:eu-repo/semantics/openAccesshttp://creativecommons.org/licenses/by/4.0Economía; Volume 47 Issue 94 (2024)reponame:PUCP-Institucionalinstname:Pontificia Universidad Católica del Perúinstacron:PUCPDirty floatCommoditiesMacroeconomic fluctuationshttps://purl.org/pe-repo/ocde/ford#5.02.01Dirty Float, Commodity Prices, and Macroeconomic Fluctuations: A Model for Peruinfo:eu-repo/semantics/articleArtículoMendoza, WaldoVilca, Rafael20.500.14657/203830oai:repositorio.pucp.edu.pe:20.500.14657/2038302025-06-02T17:08:26.472Zhttp://creativecommons.org/licenses/by/4.0info:eu-repo/semantics/openAccessmetadata.onlyhttps://repositorio.pucp.edu.peRepositorio Institucional de la PUCPrepositorio@pucp.pe
dc.title.en_US.fl_str_mv Dirty Float, Commodity Prices, and Macroeconomic Fluctuations: A Model for Peru
title Dirty Float, Commodity Prices, and Macroeconomic Fluctuations: A Model for Peru
spellingShingle Dirty Float, Commodity Prices, and Macroeconomic Fluctuations: A Model for Peru
Mendoza, Waldo
Dirty float
Commodities
Macroeconomic fluctuations
https://purl.org/pe-repo/ocde/ford#5.02.01
title_short Dirty Float, Commodity Prices, and Macroeconomic Fluctuations: A Model for Peru
title_full Dirty Float, Commodity Prices, and Macroeconomic Fluctuations: A Model for Peru
title_fullStr Dirty Float, Commodity Prices, and Macroeconomic Fluctuations: A Model for Peru
title_full_unstemmed Dirty Float, Commodity Prices, and Macroeconomic Fluctuations: A Model for Peru
title_sort Dirty Float, Commodity Prices, and Macroeconomic Fluctuations: A Model for Peru
dc.creator.none.fl_str_mv Mendoza, Waldo
Vilca, Rafael
author Mendoza, Waldo
author_facet Mendoza, Waldo
Vilca, Rafael
author_role author
author2 Vilca, Rafael
author2_role author
dc.subject.en_US.fl_str_mv Dirty float
Commodities
Macroeconomic fluctuations
topic Dirty float
Commodities
Macroeconomic fluctuations
https://purl.org/pe-repo/ocde/ford#5.02.01
dc.subject.ocde.none.fl_str_mv https://purl.org/pe-repo/ocde/ford#5.02.01
description 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).
publishDate 2024
dc.date.accessioned.none.fl_str_mv 2025-06-02T17:08:26Z
dc.date.issued.fl_str_mv 2024-12-27
dc.type.none.fl_str_mv info:eu-repo/semantics/article
dc.type.other.none.fl_str_mv Artículo
format article
dc.identifier.uri.none.fl_str_mv https://revistas.pucp.edu.pe/index.php/economia/article/view/31204/27513
http://hdl.handle.net/20.500.14657/203830
dc.identifier.doi.none.fl_str_mv https://doi.org/10.18800/economia.202402.004
url 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
dc.language.iso.none.fl_str_mv eng
language eng
dc.relation.ispartof.none.fl_str_mv urn:issn:2304-4306
urn:issn:0254-4415
dc.rights.es_ES.fl_str_mv info:eu-repo/semantics/openAccess
dc.rights.uri.none.fl_str_mv http://creativecommons.org/licenses/by/4.0
eu_rights_str_mv openAccess
rights_invalid_str_mv http://creativecommons.org/licenses/by/4.0
dc.format.none.fl_str_mv application/pdf
dc.publisher.en_US.fl_str_mv Pontificia Universidad Católica del Perú
dc.publisher.country.none.fl_str_mv PE
dc.source.es_ES.fl_str_mv Economía; Volume 47 Issue 94 (2024)
dc.source.none.fl_str_mv reponame:PUCP-Institucional
instname:Pontificia Universidad Católica del Perú
instacron:PUCP
instname_str Pontificia Universidad Católica del Perú
instacron_str PUCP
institution PUCP
reponame_str PUCP-Institucional
collection PUCP-Institucional
repository.name.fl_str_mv Repositorio Institucional de la PUCP
repository.mail.fl_str_mv repositorio@pucp.pe
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score 15,301603

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