Ecos de Economia最新文献

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The impact of the output gap on the unemployment rate: evidence from Mexico, 1987q1-2018q4 产出缺口对失业率的影响:来自墨西哥的证据,1987q1-2018q4
Ecos de Economia Pub Date : 2019-11-18 DOI: 10.17230/ecos.2019.48.1
M. García-Ramos
{"title":"The impact of the output gap on the unemployment rate: evidence from Mexico, 1987q1-2018q4","authors":"M. García-Ramos","doi":"10.17230/ecos.2019.48.1","DOIUrl":"https://doi.org/10.17230/ecos.2019.48.1","url":null,"abstract":"Using quarterly data for Mexico from 1987Q1 to 2018Q4, we measure the impact of output gap on the unemployment rate based on a State-Space model with time-varying coefficients. From an econometric modeling point of view, this model allows asymmetrical interactions between the output gap and unemployment rate. Our principal conclusions are: 1) The long-term equilibrium unemployment rate is equal to 3.06; 2) the unemployment rate does not exhibit hysteresis; 3) when GDP is lower than potential output, the impact of its growth on the unemployment rate is -0.43 percent points; and 4) when GDP is higher than potential output, the impact of its growth on the unemployment rate is close to zero. It implies that the reaction of the unemployment rate to output gap is different when the output gap is increasing from that when the output gap is decreasing; i.e., the output gap does not have the same effect on the unemployment rate over time.","PeriodicalId":40682,"journal":{"name":"Ecos de Economia","volume":"23 1","pages":"4-15"},"PeriodicalIF":0.0,"publicationDate":"2019-11-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43743792","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Las opciones reales como metodología de evaluación de un proyecto en el sector de energía 实物期权作为评估能源部门项目的方法
Ecos de Economia Pub Date : 2019-11-18 DOI: 10.17230/ecos.2019.48.4
Armando Lenin Támara Ayús, Julián Forero Corrales, Isabella Gil Osorio, Paula María Almonacid Hurtado
{"title":"Las opciones reales como metodología de evaluación de un proyecto en el sector de energía","authors":"Armando Lenin Támara Ayús, Julián Forero Corrales, Isabella Gil Osorio, Paula María Almonacid Hurtado","doi":"10.17230/ecos.2019.48.4","DOIUrl":"https://doi.org/10.17230/ecos.2019.48.4","url":null,"abstract":"This paper intends to apply the theory of real options in a construction project for a small hydroelectric power station in Colombia. The calculation of the net present value and the internal rate of return indicate that the project is viable, however, these methodologies are unaware of the option of expansion existing in said project. The article presents the calculation of this option based on the binomial tree methodology, where volatility is obtained through an EGARCH model based on the daily returns of energy prices. It is concluded that the real option makes the project viable, while developing tools that help to work this type of case in the valuations of projects belonging to the energy sector.","PeriodicalId":40682,"journal":{"name":"Ecos de Economia","volume":"23 1","pages":"61-79"},"PeriodicalIF":0.0,"publicationDate":"2019-11-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43171931","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Determinantes del uso del crédito de vivienda Por Parte de los hogares bogotanos 波哥大家庭使用住房信贷的决定因素
Ecos de Economia Pub Date : 2019-06-27 DOI: 10.17230/ECOS.2018.47.2
Milton Samuel Camelo Rincón, Johnny Steven Amaya Cárdenas, J. Guzmán
{"title":"Determinantes del uso del crédito de vivienda Por Parte de los hogares bogotanos","authors":"Milton Samuel Camelo Rincón, Johnny Steven Amaya Cárdenas, J. Guzmán","doi":"10.17230/ECOS.2018.47.2","DOIUrl":"https://doi.org/10.17230/ECOS.2018.47.2","url":null,"abstract":"","PeriodicalId":40682,"journal":{"name":"Ecos de Economia","volume":"22 1","pages":"38-57"},"PeriodicalIF":0.0,"publicationDate":"2019-06-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43929355","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Dependencia condicional en el bloque TLCAN : un análisis con modelos GARCH y Cópula 北美自由贸易协定集团的条件依赖:GARCH和COPLA模型分析
Ecos de Economia Pub Date : 2019-06-27 DOI: 10.17230//ECOS.2018.47.4
Miriam Magnolia Sosa Castro, Christian Bucio Pacheco, Alejandra Cabello Rosales
{"title":"Dependencia condicional en el bloque TLCAN : un análisis con modelos GARCH y Cópula","authors":"Miriam Magnolia Sosa Castro, Christian Bucio Pacheco, Alejandra Cabello Rosales","doi":"10.17230//ECOS.2018.47.4","DOIUrl":"https://doi.org/10.17230//ECOS.2018.47.4","url":null,"abstract":"El presente artículo tiene por objetivo analizar la dependencia condicional entre los mercados de valores de Estados Unidos, México y Canadá durante el período 2003-2018. Las Cópulas Arquimedianas y Elípticas, así como los modelos GARCH y TARCH son utilizados para realizar la modelación en tres subperíodos: antes, durante y después de la crisis financiera global. Los resultados evidencian un incremento promedio de 38 % de la dependencia condicional en la crisis financiera, con respecto al período previo; asimismo, existe una leve disminución del parámetro de dependencia al modelar la asimetría en la volatilidad de las series.","PeriodicalId":40682,"journal":{"name":"Ecos de Economia","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-06-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47115055","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Determinantes del uso del crédito de vivienda por parte de los hogares bogotanos 波哥大家庭使用住房信贷的决定因素
Ecos de Economia Pub Date : 2019-06-27 DOI: 10.17230/ecos.2019.47.2
Milton Samuel Camelo Rincón, Johnny Steven Amaya Cárdenas, John Fredy Parra Guzmán
{"title":"Determinantes del uso del crédito de vivienda por parte de los hogares bogotanos","authors":"Milton Samuel Camelo Rincón, Johnny Steven Amaya Cárdenas, John Fredy Parra Guzmán","doi":"10.17230/ecos.2019.47.2","DOIUrl":"https://doi.org/10.17230/ecos.2019.47.2","url":null,"abstract":"El crédito hipotecario es reconocido en Colombia como una de las herramientas más utilizadas para obtener vivienda propia. Esta investigación identifica los principales determinantes del crédito hipotecario, y estima la influencia de factores como la educación, el ingreso y el empleo en la probabilidad de hacer uso efectivo de tal crédito por parte de los hogares bogotanos. Con tal propósito, se realiza una descripción del marco normativo del acceso a la vivienda y las condiciones de financiación establecidas por las principales entidades bancarias. Posteriormente, y con base en los datos recolectados por la encuesta multipropósito, realizada en 2014, para Bogotá, se estima un modelo Logit para establecer la probabilidad de uso del crédito para la compra de vivienda. Los resultados sugieren que la edad, el ingreso y la estabilidad laboral influyen significativamente sobre la decisión de uso de crédito; sin embargo, el factor más importante está dado por el nivel de educación.","PeriodicalId":40682,"journal":{"name":"Ecos de Economia","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-06-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43983069","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Percepciones de afiliados a fondos de pensiones privados 私人养老基金参与者的看法
Ecos de Economia Pub Date : 2019-06-27 DOI: 10.17230//ECOS.2018.47.3
Jorge Braulio Guillen
{"title":"Percepciones de afiliados a fondos de pensiones privados","authors":"Jorge Braulio Guillen","doi":"10.17230//ECOS.2018.47.3","DOIUrl":"https://doi.org/10.17230//ECOS.2018.47.3","url":null,"abstract":"El siguiente artículo estudia los determinantes de la elección de un fondo de pensiones privado, mediante el procesamiento de un cuestionario de 514 afiliados. El cuestionario intenta medir las percepciones del consumidor con respecto a sus AFPs. Usando un modelo de ecuación estructural, encontramos que las variables socioeconómicas son irrelevantes, pero algunas percepciones como el retorno de la cartera y el liderazgo del fondo de pensiones privado fueron relevantes en la elección de una institución de fondos de pensiones privada. Contrastamos el modelo en dos diferentes períodos de tiempo : 2009 y 2016. Estos son los períodos antes y después de la turbulencia internacional en el mercado de valores.","PeriodicalId":40682,"journal":{"name":"Ecos de Economia","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-06-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42988791","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Perceptions of affiliates to private pension funds 对私人养老基金附属机构的看法
Ecos de Economia Pub Date : 2019-01-01 DOI: 10.17230/ecos.2018.47.3
Jorge Guillén
{"title":"Perceptions of affiliates to private pension funds","authors":"Jorge Guillén","doi":"10.17230/ecos.2018.47.3","DOIUrl":"https://doi.org/10.17230/ecos.2018.47.3","url":null,"abstract":"The following paper studies the determinants of choosing a private pension fund institution by processing a questionnaire of 514 affiliates. The questionnaire attempts to measure perceptions of the consumer with respect to their private pension fund institution. Using a structural equation model, we found that socioeconomic variables are irrelevant but some perceptions like the return of portfolio and leadership of the private pension fund were relevant in the choice of a private pension fund institution. We contrast the model in two different periods of time between 2009 and 2016. The periods before and after financial turmoil in the stock market.","PeriodicalId":40682,"journal":{"name":"Ecos de Economia","volume":"22 1","pages":"58-72"},"PeriodicalIF":0.0,"publicationDate":"2019-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67418693","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Género e inclusión financiera en Colombia 哥伦比亚的性别和金融包容
Ecos de Economia Pub Date : 2018-06-18 DOI: 10.17230/ECOS.2018.46.3
Daniel Elifonso Cardona Ruiz, Maria Camila Hoyos, Fabiola Saavedra-Caballero
{"title":"Género e inclusión financiera en Colombia","authors":"Daniel Elifonso Cardona Ruiz, Maria Camila Hoyos, Fabiola Saavedra-Caballero","doi":"10.17230/ECOS.2018.46.3","DOIUrl":"https://doi.org/10.17230/ECOS.2018.46.3","url":null,"abstract":"El acceso al sistema financiero formal permite a las personas organizarse financieramente, ahorrar y planear para el futuro; sin embargo, todavía es alto el porcentaje de la población colombiana que se encuentra fuera de dicho sistema, en especial las mujeres. El objetivo del presente trabajo es medir, a través de un modelo econométrico alimentado con datos de 2014, del Global Findex Database del Banco Mundial, las diferencias de género en términos de inclusión financiera en Colombia en ese año. Para esto, se tienen en cuenta tres categorías que miden a) el acceso a servicios de una institución financiera formal, b) su uso activo, y c) el uso activo de servicios financieros informales. Esta última categoría cobra relevancia, ya que tiene en cuenta aquel segmento de la población que se encuentra marginado de los servicios formales del sector financiero. En términos generales, se evidencia que ser mujer tiene un impacto negativo para una persona al momento de ser incluido en el sistema financiero formal, entendiendo “inclusión financiera” como el acceso y uso efectivo de servicios financieros formales.","PeriodicalId":40682,"journal":{"name":"Ecos de Economia","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2018-06-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46109859","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
On the volatility of the yield curve of the Colombian public debt market 哥伦比亚国债市场收益率曲线的波动性
Ecos de Economia Pub Date : 2018-06-18 DOI: 10.17230/ECOS.2017.46.2
José Miguel Sánchez, Alfredo Trespalacios Carrasquilla
{"title":"On the volatility of the yield curve of the Colombian public debt market","authors":"José Miguel Sánchez, Alfredo Trespalacios Carrasquilla","doi":"10.17230/ECOS.2017.46.2","DOIUrl":"https://doi.org/10.17230/ECOS.2017.46.2","url":null,"abstract":"This paper estimates the volatility of the Temporary Structure of Interest Rates (ETTI) of the Colombian public debt market and explains its relationship with macroeconomics fundamentals. Starting from the parametric model proposed by Nelson and Siegel (1987), the ETTI is estimated in order to capture the conditional volatility component with the Autoregressive Conditional Heteroskedasticity models (ARCH). Subsequently the relationship with the macroeconomic variables such as the gross domestic product ( y ), the general price level ( ? ), the monetary policy interest rate ( i ) and the risk country ( r ) is evaluated through impulse-response function of the Structural Vector Autoregressive models (SVAR) and the Granger causality tests. The results show that the volatility of the ETTI of the Colombian public debt market has asymmetric effects and there are causal relationships in both directions with some of the macroeconomic variables. However, when there are shocks among them, there are only significant unidirectional responses from macroeconomics to ETTI volatility and not in the opposite direction.","PeriodicalId":40682,"journal":{"name":"Ecos de Economia","volume":"22 1","pages":"28-59"},"PeriodicalIF":0.0,"publicationDate":"2018-06-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44608845","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Public infrastructure and its importance for economic growth: the case of Oaxaca (Mexico) 公共基础设施及其对经济增长的重要性:以瓦哈卡州(墨西哥)为例
Ecos de Economia Pub Date : 2018-06-18 DOI: 10.17230/ECOS.2017.46.1
E. Ramírez, Alejandro Molina Vargas
{"title":"Public infrastructure and its importance for economic growth: the case of Oaxaca (Mexico)","authors":"E. Ramírez, Alejandro Molina Vargas","doi":"10.17230/ECOS.2017.46.1","DOIUrl":"https://doi.org/10.17230/ECOS.2017.46.1","url":null,"abstract":"The objective of this paper is to estimate the impact of public infrastructure on economic growth in the eight regions of Oaxaca for the period 2003-2013. Given that regional statistics are lacking, the methodology proposed by Gerber (2003) is used to calculate the economic growth of the regions. And to measure the impact of infrastructure on growth, based on Hoechle (2007) a fixed-effects model with standard errors of Driscoll and Kraay (DKSE) is applied. The results indicate that investment in infrastructure has been insufficient and misallocated; however, the social infrastructure shows the greatest impact on growth. Finally, the results suggest that the most dynamic regions require greater investment in economic infrastructure, while the backward regions need social infrastructure.","PeriodicalId":40682,"journal":{"name":"Ecos de Economia","volume":" ","pages":"4-27"},"PeriodicalIF":0.0,"publicationDate":"2018-06-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47235708","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 8
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