3. Producción

Browse

Settings

Author: search.filters.author.Mendoza, WaldoLanguage: search.filters.language.English

Search Results

Now showing 1 - 2 of 2
  • Loading...
    Thumbnail Image
    Some of the metrics are blocked by your 
    consent settings
    Item type:Publication,
    Public Debt Dynamics and Sustainability: A Framework for Analysis
    (Pontificia Universidad Católica del Perú. Departamento Académico de Economía, 2024-12)
    This paper presents a macro-fiscal model for examining the public sector primary surplus and the dynamics and sustainability of public debt in closed and open economies. The model simulates how changes in the primary surplus affect public debt, highlighting key differences between these economic contexts. Notably, open economies can finance fiscal deficits with foreign currency-denominated debt, introducing additional sources of instability in public debt dynamics. The analysis demonstrates how a permanent reduction in the primary surplus undermines public debt sustainability, with outcomes shaped by economic conditions and the features of open and closed economies. Furthermore, it confirms that delays in implementing fiscal adjustments following a destabilizing shock result in increasingly severe corrective measures over time.
  • Loading...
    Thumbnail Image
    Some of the metrics are blocked by your 
    consent settings
    Item type:Publication,
    The Mundell-Fleming Model: A Dirty Float Version
    (Pontificia Universidad Católica del Perú. Departamento de Economía, 2019)
    A popular model in the teaching of macroeconomics of open economies at the undergraduate level is the Mundell-Fleming (MF). This model assumes that there is free capital mobility and takes into account two extreme exchange rate regimes: fixed and freely floating. But there is a third regime, currently of relevance to many central banks, which is not addressed in the MF: one in which the central bank sets the short-term interest rate and maintains a dirty-float exchange-rate regime. In this paper, an MF with these characteristics is presented. It is a simple, practical and userfriendly model that can be used to address contemporary issues, making it suitable for central banks or the teaching of macroeconomics at undergraduate level as a complement ―or even a substitute― for the traditional MF.