Dirty Float, Commodity Prices, and Macroeconomic Fluctuations: A Model for Peru

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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
Formato: artículo
Fecha de Publicación:2024
Institución:Pontificia Universidad Católica del Perú
Repositorio:Revistas - Pontificia Universidad Católica del Perú
Lenguaje:inglés
OAI Identifier:oai:revistaspuc:article/31204
Enlace del recurso:http://revistas.pucp.edu.pe/index.php/economia/article/view/31204
Nivel de acceso:acceso abierto
Materia:Dirty float
Commodities
Macroeconomic fluctuations
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spelling Dirty Float, Commodity Prices, and Macroeconomic Fluctuations: A Model for PeruMendoza, WaldoVilca, RafaelDirty floatCommoditiesMacroeconomic fluctuationsThis 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).Pontificia Universidad Católica del Perú2024-12-27info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttp://revistas.pucp.edu.pe/index.php/economia/article/view/3120410.18800/economia.202402.004Economía; Volume 47 Issue 94 (2024); 76-1052304-43060254-4415reponame:Revistas - Pontificia Universidad Católica del Perúinstname:Pontificia Universidad Católica del Perúinstacron:PUCPenghttp://revistas.pucp.edu.pe/index.php/economia/article/view/31204/27513http://creativecommons.org/licenses/by/4.0info:eu-repo/semantics/openAccessoai:revistaspuc:article/312042025-06-02T15:24:52Z
dc.title.none.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
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.none.fl_str_mv Dirty float
Commodities
Macroeconomic fluctuations
topic Dirty float
Commodities
Macroeconomic fluctuations
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.none.fl_str_mv 2024-12-27
dc.type.none.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.none.fl_str_mv http://revistas.pucp.edu.pe/index.php/economia/article/view/31204
10.18800/economia.202402.004
url http://revistas.pucp.edu.pe/index.php/economia/article/view/31204
identifier_str_mv 10.18800/economia.202402.004
dc.language.none.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv http://revistas.pucp.edu.pe/index.php/economia/article/view/31204/27513
dc.rights.none.fl_str_mv http://creativecommons.org/licenses/by/4.0
info:eu-repo/semantics/openAccess
rights_invalid_str_mv http://creativecommons.org/licenses/by/4.0
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Pontificia Universidad Católica del Perú
publisher.none.fl_str_mv Pontificia Universidad Católica del Perú
dc.source.none.fl_str_mv Economía; Volume 47 Issue 94 (2024); 76-105
2304-4306
0254-4415
reponame:Revistas - Pontificia Universidad Católica del Perú
instname:Pontificia Universidad Católica del Perú
instacron:PUCP
instname_str Pontificia Universidad Católica del Perú
instacron_str PUCP
institution PUCP
reponame_str Revistas - Pontificia Universidad Católica del Perú
collection Revistas - Pontificia Universidad Católica del Perú
repository.name.fl_str_mv
repository.mail.fl_str_mv
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score 13.908437
Dirty Float, Commodity Prices, and Macroeconomic Fluctuations: A Model for Peru
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