In this paper, we analyze the fiscal and monetary history of Uruguay between 1960 and 2014. The aim is to
explore the links between unfavorable fiscal and monetary policies and macroeconomic instability. We use
the conceptual framework from Kehoe, Nicolini and Sargent (2013), which comprises a budget-constraint
accounting exercise and models of balance-of-payment crisis and public-debt crisis. Chronic inflation in the
1960s was associated with sustained fiscal deficits. Since the 1990s, the opening of the economy, the pricestabilization
plans and the more restrictive institutional framework of the Central Bank resulted in less
inflationary financing of fiscal deficits. Although inflation significantly declined in 1960-2014, the inflation
tax remained an important source to finance obligations. Public-debt dollarization increased the
vulnerability of the public sector but primary fiscal surpluses and public-debt de-dollarization after the 2002
crisis reduced such vulnerability. We conclude that, in the last three decades, governments have slowly
understood the importance of fiscal constraints to guarantee nominal stability
The effect of entry on price. Evidence from the retail gasoline market
Seminarios Ecobas 2017
Valeria Bernardo - Doutoranda en Económicas
Tania Elena González Alvarado - Departamento de Mercadotecnia e Negocios Internacionais
Diversity, Group Size and Performance in Organizations
Brais Álvarez Pereira - EUI and ODI Fellow at the Ministry of Economy and Finances of Guinea-Bissau)
Diversity, Group Size and Performance in Organizations. Questions
Brais Álvarez Pereira - EUI and ODI Fellow at the Ministry of Economy and Finances of Guinea-Bissau)
Xornada informativa a cargo de Manuel Noya, co-fundador e CEO da empresa Linknovate
Manuel Noya - Co-fundador e CEO
O problema do recorte do presuposto en saude en Cataluña
María José Solís Baltodano - Dep. D'Economía
O problema do recorte do presuposto en saude en Cataluña. Quenda de cuestións
Rolda de preguntas
María José Solís Baltodano - Dep. D'Economía
Essays on corporate social responsibility reporting: Enhancing transparency and communication
Nicolás García Torea - Estudante de Ciencias Económicas y Empresariáis
Nicolás García Torea - Estudante de Ciencias Económicas y Empresariáis
Dinámica da especulación nun modelo de burbullas e manías. Quenda de cuestións
Quenda de cuestións
Manuel S. Santos - Economics Department
Anna Bykova - NATIONAL RESEARCH UNIVERSITY HIGHER SCHOOL OF ECONOMICS, PERM
Anna Bykova - NATIONAL RESEARCH UNIVERSITY HIGHER SCHOOL OF ECONOMICS, PERM
Rolda de Preguntas: Que é e que non é a Innovación. Tecnoloxía e Economía
Seminarios da FCCEE
Enrique Mandado -
Risk measures and capital allocations (Question Time)
Emanuela Rosazza Gianin - University of Milano- Bicocca
Contagion spillovers between sovereign and nancial European sector from a CoV aR approach
Javier Ojea - Foundations of Economic Analysis II
Javier Ojea - Foundations of Economic Analysis II
