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Copyright of Revista Criterio Libre is the property of Revista Criterio Libre and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Procesos de Mercado is the property of Procesos de Mercado. Revista Europea de Economia Politica and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

In recent years, predicting the behavior of the Benchmark Banking Indicator (ibr) has become relevant due to its importance in the Colombian money market. The purpose of this paper is to demonstrate the efficiency of lstm networks for generating predictions of time series --through their long and shortterm memory-- that are comparable with the arima predictive model for econometric studies. The incidence of the representative market rate (trm) and the rate of 10-year public debt bonds (tes) was analyzed and compared to the ibr, seeking to determine its correlation through the Pearson method. Finally, the model efficiency was evaluated with the mean square error (rmse), using a multivariable lstm network with three inputs (ibr, tes, and trm) and one output. [ABSTRACT FROM AUTHOR]

Copyright of Revista Criterio Libre is the property of Revista Criterio Libre and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Spanish Journal of Finance & Accounting / Revista Espanola de Financiacion y Contabilidad is the property of Routledge and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista de Economia is the property of Banco Central del Uruguay and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

El artículo discute de los riesgos de variaciones en tipo de cambio para los inversores, y las soluciones disponibles para mitigar los riesgos. Se esboza la alternativa del mercado de cambios, donde se puede comprar o vender la moneda en que se compromete a pagar o cobrar, así como el mercado de dinero.

In this model, monetary policy follows an inflation targeting scheme, using the interbank interest rate as the instrument of policy, while the money supply remains endogenous. On the other hand, a limit for the fiscal deficit as a percentage of GDP is set as the rule for fiscal policy, public expenditure remaining endogenous. In the monetary policy rule, the smoothing interest rate derives from the optimizing behavior of the central bank. This model shows the macroeconomic dynamics that appears in two opposite scenarios: that of total credibility in the inflation target of the central bank, and that of no credibility whatsoever, and it is found that i) there can be convergence towards the stationary equilibrium, even when the Taylor Rule is not followed, and ii) if there is total credibility in the central bank, a contractionary monetary policy can lead to inflation undershooting. [ABSTRACT FROM AUTHOR]

Copyright of Trayectorias is the property of Universidad Autonoma de Nuevo Leon and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

We analyze the Mexican market for pension retirement funds from a supply perspective. We focus on the effect different output definitions have on the cost structure of the firms in the market. We propose new definitions for the output produced by firms in this market. We use as outputs 1) the average amount of money in the account per month per affiliate; 2) the firm's market share measured with the number of affiliates; and 3) the firm's market share measured with the amount on money in the individualized accounts. We look at the presence of economies of scale with these new definitions. We estimate Cobb Douglas and Translog variable cost functions accounting for endogenous variables. The parameter estimates fall in line with expectations from production theory, however, we find the presence of increasing returns to scale is sensitive to the output definition. Thus, economic pol- icy should consider not only the possible presence of economies of scale, but also the output definition of the firms in the market to archieve greater efficiency. [ABSTRACT FROM AUTHOR]

Copyright of Contaduría y Administración is the property of Facultad de Contaduria y Administracion-Universidad Nacional Autonoma de Mexico and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

One of the keys to understanding the risks of the current financial situation is to be found in the hedge funds' industry. Although it has been in existence for more than 50 years, it was not until the nineties when this industry experienced fast growth. The collapse of the enormous hedge fund Long-Term Capital Management, in 1998, and its consequences for the financial system, showed the importance that this industry has in the generation of systemic risk. Due to the high systemic risk produced by bankruptcy in these funds, the purpose of this work is to analyze internal factors that influence the probability of bankruptcy in hedge funds. The analysis is carried out by calculating bankruptcy rates, and using a logit model of probability applied to the information about hedge funds in the database MARHedge during the 1999-2006 period. [ABSTRACT FROM AUTHOR]

Copyright of Economía del Caribe is the property of Fundacion Universidad del Norte and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Ensayos - Revista de Economía is the property of Ensayos Revista de Economia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper examines the phenomenon of self-regulation and its diverse manifestations. Particularly, it develops a general framework for the concept of self-regulation within capital markets, its general evolution, principles, existing schemes, advantages and disadvantages. It is argued that the scope and depth of self-regulation depends on the degree of existing intervention in a society. Also it is argued that self-regulation does not imply an unknowing of the Government, nor supplants its functions, but that are a complement of it. Finally the document presents the legal development of self-regulation in Colombia and approaches constitutional jurisprudence on this matter. [ABSTRACT FROM AUTHOR]

Basically, there exist two structural approaches for measuring a stock exchange's determinants: that based upon its efficiency, and that of its inefficiency. Based upon these, and an econometric instrument, a model, capable of forecasting the behaviour of the price and quotations index of the Mexican Stock Exchange, for the period 2006-8, is constructed. This forecasting model is compared to an ARIMA model, with ARCH effects. The superiority of the structural model based upon the fundamentals is evident throughout the total period of forecast. [ABSTRACT FROM AUTHOR]

This essay exposes the principal links between international reserves, money supply and fiscal revenue in Venezuela, to consider their possible impacts on exchange rate, prices and product from 1997 to 2005. The objective is to evaluate the relevancy of a monetary reform with the characteristics of the Real Plan of Brazil (1994), principal reference of the policy suggested. This work ends up by denying the need and convenience of changing the number of zeros of the bolivar, monetary Venezuelan sign. [ABSTRACT FROM AUTHOR]

El artículo enfoca en la regulación y la supervisión de las cooperativas de ahorro y crédito (CACs) en América Latina y el Caribe, incluyendo Argentina, Brasil, Chile, Ecuador, y la República Dominicana. Este estudio compara las situaciones de 11 países y destaca la posibilidad de que los CACs participen en el mercado financiero formalmente. En el caso de la República Dominicana, las CACs controlan el 2. 7% del mercado financiero, medido en la cantidad de sus activos. Después de una larga crisis durante la década 80, el crecimiento de los CACs en la isla ha sido bastante dinámica.

El artículo presenta un análisis de la operación de trueque entre instrumentos de inversión del mercado de dinero. Se discute los problemas frecuentes con la balanza de pagos que ha causado una inflación con recesión a nivel mundial. El objetivo de este trabajo es analizar la información para poder tomar decisiones con menores posibilidades de error.

El artículo presenta un análisis empírico del dinero y la balanza de pagos en América Latina. El propósito de este trabajo es estudiar los efectos del mercado monetario sobre la balanza de pagos entre 1965 y 1969. Numerosos estudios sobre este tema han enfocado en los desequilibrios externos de varias políticas económicas. Se presentan los resultados empíricos al aplicar un modelo monetario a varias situaciones de diferentes grupos de países.

El artículo presenta los resultados empíricos del estudio sobre la demanda de dinero y las estimaciones de las demandas de activos financieros. La balanza de pagos muestra el desequilibrio en el mercado monetario, reflejado por los aumentos en las reservas internacionales. Esta relación, sin embargo, existe con la ayuda de una estabilidad de demanda de dinero.

El artículo presenta un análisis monetario de la balanza de pagos. También presenta un análisis del modelo de presión en el mercado cambiario. El enfoque de muchos estudios monetarios de la balanza de pagos usualmente tienen que ver con la existencia de mercados eficientes, un análisis a largo plazo de la situación de pleno empleo y el desequilibrio que existe en el mercado monetario y sus efectos sobre el gasto interno.

Se presentan noticias que tratan de la economía de los Estados Unidos. Se informa que el ritmo de expansión económica empezaba a reflejar una tendencia descendente. Bajaban las existencias de acero. El sector privado se preocupaba por las condiciones del mercado de dinero. El Gobierno decidió no vender la parte excedente de sus existencias estratégicas de metales y minerales. El Eximbank aumentaba su ayuda directa a los exportadores norteamericanos.

Se presentan noticias que tratan de la economía de los Estados Unidos. Empezaban a preocupar los efectos negativos de una huelga del acero que pasaba. Se acentuaba la presión sobre el mercado de dinero. La Cámara de Diputados derogó el límite máximo a las tasas de interés de los bonos de ahorro. Se hablan del presupuesto de 1959-1960 y de la balanza comercial del país. Aumentaban las presiones para proteger en un mayor grado a la industria minera.

El artículo habla de los déficit de balanza de pagos y la demanda internacional de liquidez. Se consideran dos mercados de dinero con diferentes preferencias por la liquidez--el de elevada preferencia por la liquidez y el de poca preferencia por la liquidez. Se explican la separación de los mercados de dinero y capital. Se exploran las dificultades de Europa con la presencia de empresas estadounidenses. Se habla del equilibrio de balanza de pagos cuando difieren las preferencias por la liquidez.

Se presenta el texto de un discurso de Robert L. Sammons, de la Junta de Gobernadores del Sistema de la Reserva Federal, pronunciado en la VIII Reunión Operativa del Centro de Estudios Monetarios Latinoamericanos, celebrada en Caracas, Venezuela en 1964. En su discurso, Sammons habló de la naturaleza y funcionamiento de los mercados de capitales y mercados de dinero.

Se presentan noticias que tratan de la economía de los Estados Unidos. Se empezaban a generalizar los efectos de una huelga de acero que pasaba. Las condiciones del mercado monetario comenzaban a dañar a la economía norteamericana. Se dan estadísticas sobre la balanza de pagos de los EE. UU.

El artículo presenta una conclusión sobre los programas de estabilización utilizados en varios países latinoamericanos. El estudio mostró que existe una falta de una teoría inflacionaria en los programas de ajuste ortodoxos. Los desequilibrios que existen dentro de los mercados monetarios no son los únicos catalizadores que provocan la inflación. Los acontecimientos de Argentina y Brasil muestran que es necesario tener en cuenta el carácter temporal del congelamiento en precios. Para implementar un choque heterodoxo, se necesita la cooperación total de las autoridades.

El artículo presenta un análisis que trata de explicar la expansión del crédito doméstico en relación con las reservas internacionales. El concepto tiene que ver con el efecto de una venta de dólares y una depreciación en el tipo de cambio utilizado en comparación con una cantidad de presión en el mercado cambiario. Se presenta otro análisis que investiga las políticas económicas en relación con la política fiscal y cambiaría.

El artículo presenta una conclusión de la explicación por las crisis financieras que ocurrieron en México en 1976 y 1982. El análisis enfocó en las decisiones de cartera del sector privado y, también, del aumento de la liquidez en el sistema económico. Los tres capítulos del estudio sirvieron para delinear el marco teórico de los desequilibrios monetarios y las reservas internacionales, la historia de las principales políticas económicas mexicanas y una estimación del modelo de presión que existe en el mercado cambiario.