Creation and Evolution of Inflation Expectations in Paraguay

Alonso, Pablo

Working Papers - English - Aug, 2018

This paper seeks to identify the main determinants of the formation of inflation expectations in Paraguay since the adoption of the inflation targeting regime. This work bases the analysis on the results obtained from the expectations surveys conducted by t...

Fiscal Policy and Inflation: Understanding the Role of Expectations in Mexico

Bernabé López-Martín, Alberto; Ramírez de Aguilar, Daniel Samano

Working Papers - English - Aug, 2018

This paper estimates a hidden Markov model where ination is determined by government decits nanced through money creation and/or by destabilizing expectations dynamics (expectations can potentially divorce ination from fundamentals). The baseline model,...

MIDAS Modeling for Core Inflation Forecasting

Libonatti, Luis

Working Papers - English - Aug, 2018

This paper presents a forecasting exercise that assesses the predictive potential of a daily price index based on online prices. Prices are compiled using web scrapping services provided by the private company PriceStats in cooperation with a finance resear...

Extraction of Inflation Expectations from Financial Instruments

Fuertes, Alberto; Marqués, José Manuel; Gimeno, Ricardo

Working Papers - English - Jun, 2018

This paper estimates inflation expectations for several Latin American countries using an affine model that takes as factors observed inflation and parameters generated by zero-coupon yield curves of nominal bonds. Implementing this approach avoids the use ...

Does Rewarding Pedagogical Excellence Keep Teachers in the Classroom? Evidence from a Voluntary Award Program

Ramos, Alejandra; Berlinski, Samuel

Working Papers - English - Jun, 2018

This paper analyzes the effects on teacher retention and between-school mobility of a program that rewards excellence in pedagogical practice in Chile. Teachers apply voluntarily for the award and those who succeed on a set of assessments receive a 6 percen...

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