3. Producción

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    El modelo IS-LM : una versión para el Perú
    (Pontificia Universidad Católica del Perú. Departamento de Economía, 1992)
    How can the IS-LM logical structure be used advantageously to build a macroeconomic model that addresses some present Peruvian economic issues? The institutional features of the Peruvian economy underpinning this evolution are a dollarized private sector, the free exchange rate and output and prices’s sensitivity to the floating exchange rate.
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    La teoría de las uniones aduaneras: el enfoque tradicional
    (Pontificia Universidad Católica del Perú. Departamento de Economía, 1999)
    The present paper has been prepared as teaching material. We believe it can fill a vacum since to our knowledge no such a topic has been covered in certain detail in our country. Some recent discussion about the economic merits of the Preferential Trade Areas adds relevance to this topic. The review we made is not thorough. We only covered what we think is the most important literature on custom unions within what we may call the traditional approach. This literature does not deal with the existence of increasing returns to scale. An important omission is the work of Jaroslav Vanek.
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    Retornos crecientes a escala, comercio internacional y política comercial
    (Pontificia Universidad Católica del Perú. Departamento de Economía, 1999)
    This paper presents in the first place, Kemps contribution to the understanding of the effects of the presence of IRS on the H-O theory of trade. Then, following W. Ethier we present a view about the development of trade theory incorporating IRS. Later on we present the “integrated economy” approach by P. Krugman. Finally, some models on commercial policy in the presence of IRS and imperfect competition are presented.
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    Espacios económicos, jerarquía de lugares centrales y teoría de grafos : algunas reflexiones teóricas y una aplicación empírica
    (Pontificia Universidad Católica del Perú. Departamento de Economía, 1980)
    Explora los diversos problemas generados en la teoría económica espacial provenientes del hecho de tomar como punto de partida para el análisis las hipótesis de homogeneidad y continuidad. Concluye que el recurso a las nociones de-homogeneidad y continuidad espaciales, tan socorrida por la mayoría de los especialistas regionales, limita, encasilla y restringe el análisis regional. Habiendo asumido que por definición, el espacio es heterogéneo y discontinuo, el empleo de la teoría de grafos facilita considerablemente la obtención de una jerarquía de Lugares Centrales.
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    Dinero, tipo de cambio y expectativas
    (Pontificia Universidad Católica del Perú. Departamento de Economía, 1995)
    Two dynamic models are developed in this essay. In both models the rate of inflation, the exchange rate variations and the rate of output growth are determined. They are different only in the treatment of exchange rate expectations. The first one includes adaptive expectations and the second one works with rational expectations. In the new steady state equilibrium, after a decrease in the rate of growth of money, there is a proportionate decreasing in the rates of inflation and depreciation. However, the models work in different ways in the trajectory towards the equilibrium.
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    Perú : quinquenio 1985-1989 : modelo del Banco Mundial
    (Pontificia Universidad Católica del Perú. Departamento de Economía, 1986)
    El modelo en cuestión es el llamado modelo mínimo estándar revisado (MMSR), debiendo lo de mínimo estándar a que está basado en principios económicos básicos -identidades de cuentas nacionales, balanza de pagos y algunas ecuaciones de comportamiento- lo que permite realizar proyecciones genéricas sobre la evolución de economías que participan de características semejantes. El trabajo tiene 3 secciones: la primera de descripción básica de la estructura del modelo, la segunda de determinación de parámetros -tasas de crecimiento y elasticidades- y la tercera de evaluación de escenarios.
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    Keynesianismo, monetarismo y nueva macroeconomía "clásica"
    (Pontificia Universidad Católica del Perú. Departamento de Economía, 1999)
    This essay presents the keynesian and monetarisit approaches to the effects of monetary policies on output and employment. The keynesians argue that the monetary authorities could permanently increase output or employment by raising monetary growth, trading this off against a higher wage and price inflation. But, according to monetarists, a government attempting to trade off a higher inflation rate against lower unemployment will merely obtain a short run reduction in unemployment and a permanently higher inflation rate. The answer of new classical macroeconomists to monetarists is also analyzed. Monetarist argument is based on the adaptive expectations hypothesis. For the new classical economists real income and employment respond only to unanticipated demand changes; output never systematically deviates from its natural level and systematic government policy cannot affect real output or employment. This policy neutrality result is based on the rational expectations hypothesis. The meaning of policy optimality and Lucas critique are also analyzed. Finally, the essay presents the three basic methods for solving problems with rational expectation.
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    Macroeconomía Keynesiana de la determinación de los niveles de producción y empleo
    (Pontificia Universidad Católica del Perú. Departamento de Economía, 1999)
    Different keynesian models of output and employment determination are examined in this essay: from simple keynesian model to models with social classes and two and three economic sectors. The last ones belong to Kalecki, Kaldor, Pasinetti and Nell. In all of these models the principle of effective demand is corroborated: if there is a local producer sector of capital goods, investment creates its own saving through the multiplier. Capitalists get what they spend while workers spend what they get. Several basic concepts are analyzed in this essay: aggregate demand and aggregate supply, different approaches to consumption, the marginal efficiency of capital, Tobin´s q, acceleration principle, and cycles related to the accelerator and the multiplier.
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    Agregados macroeconómicos y contabilidad nacional
    (Pontificia Universidad Católica del Perú. Departamento de Economía, 1999)
    This essay is concerned with the basic concepts of National Income and Product Accounts, which are used mostly for macroeconomic analysis. The Input-Output Accounts are also analyzed in order to discuss, once again, the different methods of GDP estimation. Moreover, Monetary Flows and Balance of Payments Accounts are presented emphasizing on their relationships. Finally, several index numbers are examined comparing their characteristics and differences.
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    Integración de las políticas de corto y largo plazo
    (Pontificia Universidad Católica del Perú. Departamento de Economía, 1989)
    Intenta integrar las políticas económicas de corto y largo plazo para el caso de la economía peruana. A través de un modelo simplificado analiza las variables reales de la economía peruana.