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Shocks de precios internacionales bajo incertidumbre estocástica
[International Prices Shocks under Stochastic Uncertainty]

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  • Alarcon Gambarte, Samuel

Abstract

Latin America has experienced a context of high volatility in its terms of trade during recent years. To analyze this phenomenon, a new way of modeling external prices that seeks to capture the uncertainty of the international market is provided. A stochastic dynamic general equilibrium model is constructed and estimated with data from Bolivia. Finally, a simulation is carried out introducing an export price shock and analyzing three different scenarios: Conventional, under persistence shock and variance shock. It is analyzed the macroeconomic mechanisms of transmission in the face of external shocks and how economic agents react to changes in uncertainty.

Suggested Citation

  • Alarcon Gambarte, Samuel, 2019. "Shocks de precios internacionales bajo incertidumbre estocástica [International Prices Shocks under Stochastic Uncertainty]," MPRA Paper 97116, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:97116
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    References listed on IDEAS

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    More about this item

    Keywords

    Macroeconomía de la Economía Abierta; Fluctuaciones y Ciclo Económico. Macroeconomics of the Open Economy; Fluctuations and Economic Cycle.;
    All these keywords.

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics

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