This paper presents a general view of the monetary method the Institute for Liberty and Democracy (ILD) is applying in order to obtain a rough estimate of the size of the underground economy. Special emphasis was put in specifying not only the theoretical links with the models originally formulated in the United States by Edgar Feige and Vito Tanzi, but the precise scope of the method in terms of what specific activities it can detect adequately. There is such a misknowledge about this method in the academic areas in Peru which makes it easy to overestimate the importance of negative critics which have been recently addressed to the ILD's model. The latest version of the ILD's model is also presented -which is under permanent revisión and correction- as well as the most recent estimations.​

This paper is aimed at presenting the "state of arts" of economic analysis in the study of political processes and their importance for resource allocation. The first part presents a general description of the "neoinstitutional school" as a new attempt to extend the theory of price and apply it to social and political institutions. The main developments of this school are presented in such fields as the importance of the balance of powers, the stability of political decisions in Congress and the influence of pressure groups on legislators. Finally some recommendations derived from these models are presented to improve the functioning of the Peruvian democratic system.

​This article considers the prospects for constructing a theoretical framework that allows the author understand the trend of the real exchange rate in Peru since 1989. After discarding the Purchasing Power Parity approach, because of its theoretical flaws and the portfolio approaches, because of their short-run emphasis, the author states the need for a real approach. Based on the Dornbusch, Fischer and Samuelson model he proposes an explanation in term of the interrelation between the sectors producing tradeables and non tradeables goods.

Economic theory has recently abandoned its attitude of indifference toward democracy and its importance for the functioning of markets. With the help of the Findlay-Wilson model, it can be shown how the absence of a democratic regime can bring stagnation and decline for society. Representative democracy can hardly be replaced by "direct democracy", as some intellectuals and politicians are presently proposing in Peru.

Gary Becker has dedicated has devoted his life to extend the application of economic theory to all human activities. In his Treatise on the Family, Becker studies sexual discrimination, polygamy and monogamy, the choosing of mates, the demand for children and divorce, from the point of view of investing in human capital. It was perhaps this study that earned him the Nobel Prize for Economics. This article offers a view brief comment on this book.

Douglass North' s most important contribution to economic theory is his emphasis in tire critical facilitating role of a favorable institutional environment for creating the necessary conditions that make possible economic growth. Creating such an environment is the most fundamental condition for the economic progress of the third world.

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Robert Lucas is the economist whose work has had the greatest impact on the development of macroeconomics in the present century. His contribution to macroeconomics is concentrated in three particular topics: the application of the rational expectations hypothesis, the emergence of an equilibrium theory of business cycles, and the econometric evaluation of economic policy. Lucas has also made major contributions to several other fields of economics such as finance and the theory of economic growth.

This article examines the Peruvian regulaton; policy making since 1993, when the government initiated a new period of structural reforms aiming at consolidating the adjustment and liberalization processes. We emphasize the case of the Institute for the Defense of Competition and the Protection of Intellectual Property (Indecopi), because this is the regulatory agency with the biggest accumulated experience in the solution of conflicts and the enforcement of sanctions.

In this paper we analyze the regulatory experience in Peru for two public utilities. The first one is electricity, where most of the enterprises have been transferred to the private sector and there has been a remarkable quality improvement in the service provision. The second one is the water, a service sector that Peruvian Government has been reluctant to privatize, creating serious problems for an efficient management and the changes to improve the quality of the service.

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The Peruvian producer of vegetal cooking oil are trying to deter the entry of imports coming from Argentina, claiming that these products have a 10% subvention from the Argentinian Government and that this subsidy allows them to compete unfairly with the Peruvian producers. They are asking INDECOPI to apply a countervailing duty in order to outweigh the negative effects of this alleged subvention. This paper analyzes the validity of the arguments held by the plaintiffs and the convenience of fulfilling their requests. 

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