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The loan puzzle in Mexico
Latin American Journal of Central Banking
Pub Date : 2025-01-01 DOI: 10.1016/j.latcb.2024.100160
Luis Fernando Colunga-Ramos
Empirical evidence for advanced economies suggests that following a monetary tightening, commercial and industrial bank loans show a positive “puzzling response”. Since there is no wide evidence for the Mexican case, this paper analyzes the response of bank loans at the sectoral level after a monetary contraction. For this purpose, I estimate a structural VAR model with block exogeneity to identify a monetary shock for a small open economy. The results show evidence of firms’ loan puzzles during 2001-2019 characterized by an inflation-targeting regime in Mexico. Those short-lived loan puzzles are mainly observed in sectors with the lowest delinquency rates during the period of analysis. My finding of the loan puzzle at the aggregate level in a recent sample arises in a closed as well as in an open economy approach.
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引用次数: 0
Brazilian economy in the 2000’s: A tale of two recessions
Latin American Journal of Central Banking
Pub Date : 2024-12-21 DOI: 10.1016/j.latcb.2024.100162
Matheus Cardoso Leal, Márcio Issao Nakane
During the 2008 Great Recession, the adoption of counter-cyclical economic policies made the Brazilian economy more resilient. However, a noteworthy shift occurred in 2014, marked by a deterioration in Brazil’s macroeconomic landscape, primarily driven by a worsening debt situation. Consequently, this downturn led to a decline in private investment, an upswing in unemployment rates, and negative growth rates over multiple quarters. To comprehend these macroeconomic fluctuations, this paper employs the Business Cycle Accounting (BCA) analytical framework, focusing on quarterly data spanning from 2002 to 2019. Among the key findings, the study reveals that the efficiency wedge played a pivotal role in replicating observed output movements during both recessions, with the labor wedge following closely. Investment and government consumption wedges were not significant business cycle drivers in the period.
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引用次数: 0
The effect of financial inclusion on economic and social indicators in Mexico
Latin American Journal of Central Banking
Pub Date : 2024-12-19 DOI: 10.1016/j.latcb.2024.100161
Guadalupe del Carmen Briano-Turrent
This paper analyses the relationship between financial inclusion and the economic and social development in Mexico. For this quantitative research, a study sample composed by 448 observations during the 2007–2020 was analyzed using fixed effect estimations with instrumental variables 2SLS. Empirical results show that access to banking services reduces poverty, informality and inequality and favor the human development and its components of health, standard of living and education. The banking penetration decreases poverty, informality and inequality and enhances the standard of living and education. An increase in the usage of banking services diminishes the poverty and informality and increases the human development. This research contributes to practical implications for policy makers to enhance financial inclusion and human development in Mexico.
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引用次数: 0
The role of informality in the economic growth, employment, and inflation during the COVID-19 crisis COVID-19危机期间非正规经济在经济增长、就业和通货膨胀中的作用
Latin American Journal of Central Banking
Pub Date : 2024-07-01 DOI: 10.1016/j.latcb.2024.100150
Manuel Torres-Favela, Edgar M. Luna
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引用次数: 0
Capital ratios and the Weighted Average Cost of Capital: Evidence from Chilean banks 资本比率和加权平均资本成本：智利银行的证据
Latin American Journal of Central Banking
Pub Date : 2024-07-01 DOI: 10.1016/j.latcb.2024.100143
Rodrigo Cifuentes, Tomás Goméz, Alejandro Jara
{"title":"Capital ratios and the Weighted Average Cost of Capital: Evidence from Chilean banks","authors":"Rodrigo Cifuentes, Tomás Goméz, Alejandro Jara","doi":"10.1016/j.latcb.2024.100143","DOIUrl":"https://doi.org/10.1016/j.latcb.2024.100143","url":null,"abstract":"","PeriodicalId":100867,"journal":{"name":"Latin American Journal of Central Banking","volume":"20 6","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141853860","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Mitigating policies for pollutant emissions in a DSGE for the Brazilian economy 巴西经济 DSGE 中的污染物排放缓解政策
Latin American Journal of Central Banking
Pub Date : 2024-07-01 DOI: 10.1016/j.latcb.2024.100145
Marcos Valli Jorge, A. M. Fasolo, Silvio Michael de Azevedo Costa
{"title":"Mitigating policies for pollutant emissions in a DSGE for the Brazilian economy","authors":"Marcos Valli Jorge, A. M. Fasolo, Silvio Michael de Azevedo Costa","doi":"10.1016/j.latcb.2024.100145","DOIUrl":"https://doi.org/10.1016/j.latcb.2024.100145","url":null,"abstract":"","PeriodicalId":100867,"journal":{"name":"Latin American Journal of Central Banking","volume":"12 2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141693248","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Uruguay’s banking system exposure to transition risk 乌拉圭银行系统面临的转型风险
Latin American Journal of Central Banking
Pub Date : 2024-07-01 DOI: 10.1016/j.latcb.2024.100148
Andrea Barón, Helena Rodríguez
{"title":"Uruguay’s banking system exposure to transition risk","authors":"Andrea Barón, Helena Rodríguez","doi":"10.1016/j.latcb.2024.100148","DOIUrl":"https://doi.org/10.1016/j.latcb.2024.100148","url":null,"abstract":"","PeriodicalId":100867,"journal":{"name":"Latin American Journal of Central Banking","volume":"235 1‐2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141708604","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The effects of climate change on a small and open economy: Economic and monetary perspectives 气候变化对小型开放经济体的影响：经济和货币视角
Latin American Journal of Central Banking
Pub Date : 2024-07-01 DOI: 10.1016/j.latcb.2024.100144
Jesús Bejarano, Daniela Rodríguez
{"title":"The effects of climate change on a small and open economy: Economic and monetary perspectives","authors":"Jesús Bejarano, Daniela Rodríguez","doi":"10.1016/j.latcb.2024.100144","DOIUrl":"https://doi.org/10.1016/j.latcb.2024.100144","url":null,"abstract":"","PeriodicalId":100867,"journal":{"name":"Latin American Journal of Central Banking","volume":"43 4","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141840742","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Real exchange rate and economic activity in Jamaica 牙买加的实际汇率和经济活动
Latin American Journal of Central Banking
Pub Date : 2024-07-01 DOI: 10.1016/j.latcb.2024.100149
Alvin E. Harris, Prudence Serju-Thomas
{"title":"Real exchange rate and economic activity in Jamaica","authors":"Alvin E. Harris, Prudence Serju-Thomas","doi":"10.1016/j.latcb.2024.100149","DOIUrl":"https://doi.org/10.1016/j.latcb.2024.100149","url":null,"abstract":"","PeriodicalId":100867,"journal":{"name":"Latin American Journal of Central Banking","volume":"34 4","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141709659","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Central bank digital currencies (CBDCs) in Latin America and the Caribbean 拉丁美洲和加勒比地区的中央银行数字货币（CBDCs）
Latin American Journal of Central Banking
Pub Date : 2024-07-01 DOI: 10.1016/j.latcb.2024.100140
Viviana Alfonso C, Steven Kamin, Fabrizio Zampolli
{"title":"Central bank digital currencies (CBDCs) in Latin America and the Caribbean","authors":"Viviana Alfonso C, Steven Kamin, Fabrizio Zampolli","doi":"10.1016/j.latcb.2024.100140","DOIUrl":"https://doi.org/10.1016/j.latcb.2024.100140","url":null,"abstract":"","PeriodicalId":100867,"journal":{"name":"Latin American Journal of Central Banking","volume":"22 12","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141703986","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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