Bogotá, Colombia

This article first explores the cyclical dynamics of remittances, and then, analyzes the macroeconomic impact of remittances and the monetary policy implications. In this endeavor, we use the case of the Philippines, one of the countries where remittances are substantial. A dynamic structural…

Can frictionless small open economy models driven solely by technology shocks account for business cycles in developing countries? We do not find evidence of it. We build a DSGE model that jointly includes a variety of real perturbations in addition to technology shocks, such as procyclical…

Latin American Investor Conference organized by Merrill Lynch. Inter American Development Bank Meeting.

This paper uses discrete-choice models to quantify the role of consumer socioeconomic characteristics, payment instrument attributes, and transaction features on the probability of using cash, debit card, or credit card at the point-of-sale. We use the Bank of Canada 2009 Method of Payment…

SEACEN – CEMLA Conference “The Implementation of Monetary Policy: Lessons from the Crisis and Challenges for Coming Years”. 

IMF Statistics Department Seminar. Washington, United States