Search

The Regional Comprehensive Economic Partnership, better known as the RCEP, is a free trade agreement signed by 15 countries from the Asia-Pacific region in November 2020. It took effect in January 2022. After presenting an overview of the agreement, this paper looks at the negotiations and the current state of the RCEP. It then focuses on its basic content, particularly from a legal standpoint, as it analyses the institutional framework, the decision rule, its legal sources and the dispute settlement system, without omitting to look at the agreement from an economic perspective. [ABSTRACT FROM AUTHOR]

This paper explores the credibility of monetary policy in Colombia and its evolution after the adoption of the inflation targeting system. To do so, a non-linear Phillips curve is estimated based on unemployment for an open economy, which incorporates the direct effect of past inflation rate on price formation and a prospective component. It shows a deeper trade-off between inflation and unemployment and lower inflationary persistence. Consequently, the country could emphasize the greater responsibility of the central bank in economic growth and employment. [ABSTRACT FROM AUTHOR]