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Structural Economic Model for Ecuador: a Dollar-ized and Oil-ized Economy

Author

Listed:
  • Pedro Elosegui y Nicolás Grosman

    (LiD-Maimonides University-UNLP)

  • Nicolás Grosman

    (LiD-McKinsey)

Abstract

The paper develops a Structural Model with the main macroeconomic features of the Ecuadorian economy. It models the main transmission channels of a small open and dollarized economy, highly dependent on oil production and foreign remittances. It is estimated by Bayesian methodsfor the period 2001-2010. The framework highlights the main risks affecting the macroeconomic performance, including the importance of international shocks. It also underscores the importance of the fiscal policies and the independent and significant role of the oil value added in the domestic economy.

Suggested Citation

  • Pedro Elosegui y Nicolás Grosman & Nicolás Grosman, 2016. "Structural Economic Model for Ecuador: a Dollar-ized and Oil-ized Economy," Económica, Instituto de Investigaciones Económicas, Facultad de Ciencias Económicas, Universidad Nacional de La Plata, vol. 62, pages 23-53, January-D.
    • Handle: RePEc:akh:journl:602
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    File URL: https://revistas.unlp.edu.ar/Economica/article/view/5337/4363
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    Cited by:

    1. Roger Alejandro Banegas Rivero & Marco Alberto Nunez Ramirez & Yesenia Clark Mendivil, 2020. "Landlocked Countries, Institutions and Economic Dynamics," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 10(2), pages 160-188, February.

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    Keywords

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    JEL classification:

    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy

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