Money Affairs

This is a semiannual publication initiated in 1988, which opened a new forum for specialists from Latin American and English speaking nations to analyze current topics on the areas of monetary, exchange and financial economy. It regularly addresses those events affecting Latin America and the Caribbean, as well as the United States, the European Union, and Japan. Each of the issues comprises an average of six or seven articles, usually with several of them focused on a single issue in order to discuss it from various perspectives. The papers are authored mainly by researchers from the central banks of Latin America, the Caribbean, North America, Europe, and Japan.

 

Volume XXIV, 2011

Number 2, July-December

  • Firm failure and relation lending: new evidence from small businesses.
    José Eduardo Gómez-González and Nidia Ruth Reyes.
  • Stress Tests for Banking Sector: A Technical Note.
    Rodrigo Alfaro and Andrés Sagner.
  • Investigating the Link between Bank Capital & Economic Activity: Evidence on Jamaican Panel Data.
    Sherene A. Bailey-Tapper.

Number 1, January-June

  • Offshore Barbados: a critical analysis.
    Troy Lorde, Jason Lacorbiniere and Brian Francis.
  • Estimations of the natural rate of interest in Colombia.
    Eliana González, Luis F. Melo, Luis E. Rojas and Brayan Rojas.
  • A dynamic factor model of quarterly real gross domestic product growth in the Caribbean: the case of Cuba and the Bahamas.
    Philip Liu and Rafael Romeu.
  • Monetary policy “alternatives” in the face of a dysfunctional transmission mechanism.
    Sharon Miller-Betty
 

Volume XXIII, 2010

Number 2, July-December

  • Monetary policy committees and the decision to publish voting records.
    Esteban Colla de Robertis
  • A normative analysis of banking supervision: independence, legal protection and accountability
    Jorge Ponce
  • Tax policy and macroeconomic activity in Barbados.
    Kevin Greenidge and Lisa Drakes
  • Central bank economic research: output, demand, productivity, and relevance.
    Miguel Sarmiento

Number 1, January-June

  • The dynamics of bank spreads in the Jamaican banking sector: an empirical assessment.
    Dwight S. Jackson
  • A real time evaluation of the central bank of Chile GDP growth forecasts.
    Pablo Pincheira
  • A larger slice of a growing pie: the role of emerging Asia in forecasting commodity prices.
    Olivier Gervais, Ilan Kolet and René Lalonde

Volume XXII, 2009

Number 2, July-December

  • The asymmetric effects of nominal shocks on the Jamaican economy: evidence from a non-linear VAR.
    Neil Mitchell and Wayne Robinson
  • External debt and growth in the Caribbean.
    Daniel Boamah and Winston Moore
  • Evaluation of short run inflation forecasts and forecasters in Chile.
    Pablo Pincheira and Roberto Álvarez
  • Workers remittances and their impact on economic growth in Barbados.
    Trevor Campbell

Number 1, January-June

  • Investigating the market-structure, performance relationship in the commercial banking sector: evidence from Jamaica.
    Sherene A. Bailey
  • What attracts tourists to paradise?
    Evridiki Tsounta
  • A look at imported construction materials by Barbados.
    Trevor Campbell
  • Budget deficit, money growth and inflation: evidence from the Colombian case.
    Ignacio Lozano
  • Balance of payments adjustment in Barbados.
    Brian Francis, Troy Lorde and Kimberly Waithe

Volume XXI, 2008

Number 2, July-December

  • Determinants of commercial banks’ cost of financial intermediation in Jamaica: a maximum likelihood estimation approach.
    Odean B. White
  • What is the size of the pie? Measuring the informal economy in Latin America and the Caribbean Yan Sun Rupa Duttagupta Price dynamics in the Eastern Caribbean.
    Guillermo Vuletin
  • Banknote printing at modern central banking: trends, costs and efficiency.
    Jorge E. Galán and Miguel Sarmiento

Number 1, January-June

  • Commodity prices in Argentina. What does move the wind?.
    Diego Bastourre, Jorge Carrera and Javier Ibarlucia
  • Emigrant remittances and the real exchange rate in Guatemala: an adjustment-costs story.
    Juan Carlos Castañeda Fuentes and Juan Carlos Catalán Herrera
  • Labour market flexibility in small island developing states.
    Xiomara Archibald, Denny Lewis-Bynoe and Winston Moore
  • The sources of capital flows volatility: empirical evidence for emerging countries.
    Carmen Broto Javier Díaz-Cassou and Aitor Erce-Domínguez

Volume XX, 2007

Numer 2, July-December

  • Is long-term private foreign investment for Barbados likely to improve without capital controls.
    Trevor Campbell
  • Public investment and growth in the Eastern Caribbean.
    Shaun K. Roache
  • Staff, functions, and staff costs at central banks: an international comparison with a labor- demand model.
    Jorge E. Galán Camacho and Miguel Sarmiento Paipilla
  • The impact of emerging Asia on commodity prices.
    Calista Cheung and Sylvie Morin

Number 1, January-June

  • Estimating potential output for Jamaica: a structural VAR approach.
    Prudence Serju
  • Regional integration and elasticities of export demand in Barbados.
    Prosper F. Bangwayo-Skeete and Ryan W. Skeete
  • The Laffer curve of macroeconomic volatility and growth: can it be explained by the different nature of crises?.
    Alicia García-Herrero and Josep Vilarrubia
  • A comparison of Canadian and US universal banks: efficiency, productivity, and the role of technology.
    Jason Allen, Walter Engert and Ying Liu

Volume XIX, 2006

Number 2, July-December

  • Measurement problems in household international remittances.
    Kenneth Coates
  • A BVAR forecasting model for Peruvian inflation.
    Gonzalo Llosa Vicente Tuesta Marco Vega
  • The impact of Barbados’ investment climate on its foreign direct investment inflows.
    Trevor Campbell
  • Secrecy in foreign exchange interventions: the point of view of a practitioner in a European context.
    Isabelle Strauss-Kahn

 

Number 1, January-June

  • Sovereign debt sustainability in Jamaica: a risk management approach.
    Jide Lewis
  • Non-linear effects of monetary policy and real exchange rate shocks in partially dollarized economies: an empirical study for Peru.
    Saki Bibio L. and Jorge Salas M.
  • The bank lending channel in Venezuela: evidence from bank level data.
    Adriana Arreaza Coll, Eduardo Torres and Eugenia Santander
  • Commercial banks’ demand for excess liquid assets.
    Tracy Maynard Winston Moore

Volume XVIII, 2005

Number 1, January-June

  • Concentration and price rigidity: evidence for the deposit market in Chile.
    Solange Berstein and Rodrigo Fuentes
  • Modelling and forecasting exchange rate dynamics in Jamaica: an application of asymmetric volatility models.
    Rohan Longmore and Wayne Robinson
  • Interest rate rules vs. money growth rules: some theoretical issues and an empirical application for Venezuela.
    Víctor Olivo

Number 2, July-December

  • Financial innovation and efficiency in the Barbadian banking industry.
    Roland Craigwell, Winston Moore  and Kim Coppin
  • Monetary policy rules and the transmission mechanism in Jamaica .
    Courtney Allen and Wayne Robinson
  • A look at inward foreign direct investment transactions for Barbados.
    Trevor Campbell and Keisha Gill
  • The transmission of world shocks to emergingmarket countries: an empirical analysis.
    Brigitte Desroches

Volume XVII, 2004

Number 2, July-December

  • Fiscal dominance and foreign debt: five decades of Latin American experience.
    Kenneth Coates and Edwin Rivera
  • Dollarization of assets and liabilities: problem or solution? The case of Bolivia.
    Juan Antonio Morales
  • External price competitiveness and trade in the Caribbean.
    Chanelle T. Maxwell and Winston R. Moore
  • The impact of real domestic income on indirect taxes in Barbados with the use of an impulse response function.
    Trevor Campbell

Number 1, January-June

  • Efficient policy rule for inflation targeting in Colombia.
    Martha López P.
  • A small scale macroeconomic model for Venezuela.
    Adriana Arreaza, Enid Blanco and Miguel Dorta
  • Real shocks, credibility & stabilization policy in a small open economy.
    Wayne Robinson
  • Using additional information in estimating the output gap in Peru: a multivariate unobserved component approach.
    Gonzalo Llosa and Shirley Miller

Volume XVI, 2003

Number 2, July-December

  • The Argentine banking and exchange crisis of 2001: can we learn something new about financial crisis?
    Tamara Burdisso, Verónica Cohen Sabban and Laura D'Amato
  • Determinants of the Chilean sovereign spread: is it purely fundamentals?
    Álvaro Rojas O. and Felipe Jaque S.
  • What does really discipline fiscal policy in emerging markets?: the role and dynamics of exchange rate regimes. 
    Enrique Alberola and Luis Molina
  • Building the dedollarization agenda: lessons from the Uruguayan case.
    Gerardo Licandro and José Antonio Licandro

Number 1, January-June

  • Forecasting and analyzing world commodity prices.
    René Lalonde, Zhenhua Zhu and Frédérick Demers
  • Monetary conditions and core inflation: an application of neural networks.
    Prudence Serju
  • Taylor rules and inflation targeting do not work with systematic foreign exchange market intervention.
    Víctor Olivo
  • Price inflation and exchange rate pass-trough in Chile.
    Carlos José García T. and Jorge Enrique Restrepo

Volume XV, 2002

Number 2, July-December

  • The East Asian exchange rate dilemma and the world dollar standard.
    Ronald I. McKinnon
  • Towards new money measurers.
    Paul Gilbert and Lise Pichette
  • The determinants of bank interest spread in Brazil.
    Tarsila Segalla Afanasieff, Priscilla Maria Villa Lhacer and Márcio I. Nakane
  • Competing monies in Guatemala: what should we expect?
    Juan Carlos Castañeda

Number 1, January-June

  • Evaluation and combination of core inflation measures for Brazil.
    Francisco Marcos Rodrigues Figueiredo and Roberta Blass Staub
  • Estimation of speculative attack models and the implications for macroeconomic policy: Jamaica 1991-2000.
    Bosede Nelson-Douglas
  • Towards multibanking in Colombia: from ‘patchwork’ to financial holdings.
    Sergio Clavijo
  • Banking efficiency in the Eastern Caribbean Currency Union: an examination of the structure-conduct-performance paradigm and the efficiency hypothesis.
    Tracy Polius and Wendell Samuel
  • The impact of cash flow on corporate investment in Trinidad and Tobago.
    Rudolph Matthias and Allisha Abraham

Volume XIV, 2001

Number 2, July-December

  • Financial sector reform and development finance sweet dreams and hard facts.
    Eduardo Lizano Fait
  • The M1 vector-error-correction model: some extensions and applications.
    Scott Hendry Charleen Adam
  • Public debt, public debt markets and monetary policy in Colombia.
    Patricia Correa
  • Management of international reserves in Trinidad and Tobago, 1964-1996. 
    Leathan Patrick Baptiste

Number 1, January-June

  • Implementing Inflation Targeting in Brazil.
    Joel Bogdanski, Alexandre Antonio Tombini and Sergio R. Da C. Werlang
  • The scope for inflation targeting in a developing economy: feasibility, implications and design issues for Trinidad & Tobago.
    Anston Rambarran
  • Exchange rates and trade balance: testing the short-and-long-run relationship using data for Latin American countries.
    Hernán Rincón Castro
  • Shifting intermediation in a bank centric environment: the case of the OECS financial system.
    Peter Adrien

Volume XIII, 2000

Number 2, July-December

  • Mexico's monetary policy framework under a floating exchange rate regime.
    Agustín G. Cartens and Alejandro M. Werner
  • Monetary policy in a dollarized economy: the case of Peru.
    Zenón Quispe
  • A nonlinear specification of demand for cash in Colombia.
    Luis E. Arango and Andrés González

Number 1, January-June

  • An examination of the purchasing power parity hypothesis in a low inflation environment.
    Reginald Darius and Oral Williams
  • Bank competition and contestability in Trinidad and Tobago: a case for further commitments under the GATS
  • Volatility of rates of return and capital adequacy in the Brazilian banking sector: an analysis of the 1993/97 period.
    Orlando C. de Matos
  • Business cycles in emerging market economies.
    Shaghil Ahmed and Prakash N. Loungani

Submission process for
Monetaria

CEMLA receives articles or essays (papers in general) for peer-review refereeing on a continuous basis. Any person may submit original papers to be published in Monetaria provided the author or owner of its rights authorizes CEMLA to submit the article for peer-review refereeing and grants the Center translating, editing and publishing rights if accepted for publication.

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