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Manejo de sacudidas petroleras negativas: la experiencia venezolana en los años 80

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  • Ricardo Hausmann

Abstract

(Disponible en idioma inglés únicamente) La experiencia venezolana en los años 80 es un terreno especialmente fértil para el análisis de sacudidas negativas. Se produjeron dos sacudidas de gran magnitud en regímenes de control muy distintos, lo que puso de manifiesto el papel que desempeña la estructura institucional en la determinación de la respuesta. Además, la experiencia puede arrojar una luz distinta sobre la conveniencia de regímenes cambiarios alternativos de países sujetos a sacudidas comerciales de gran magnitud y frecuentes. Además, el análisis se puede simplificar por dos motivos. En primer lugar, las sacudidas petroleras tienen efectos directos en el sector público únicamente, lo que implica que lo que afecta a los hogares y las empresas es la reacción de políticas a las sacudidas. En segundo lugar, la respuesta de la oferta de la industria petrolera no es de interés macroeconómico.

Suggested Citation

  • Ricardo Hausmann, 1995. "Manejo de sacudidas petroleras negativas: la experiencia venezolana en los años 80," Research Department Publications 4011, Inter-American Development Bank, Research Department.
  • Handle: RePEc:idb:wpaper:4011
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    2. Krugman, Paul & Taylor, Lance, 1978. "Contractionary effects of devaluation," Journal of International Economics, Elsevier, vol. 8(3), pages 445-456, August.
    3. Daekuen Park & Jeffrey Sachs, 1987. "Capital Controls and the Timing of Exchange Regime Collapse," NBER Working Papers 2250, National Bureau of Economic Research, Inc.
    4. T. W.Swan, 1960. "Economic Control In A Dependent Economy," The Economic Record, The Economic Society of Australia, vol. 36(73), pages 51-66, March.
    5. Merton, Robert C., 1976. "Option pricing when underlying stock returns are discontinuous," Journal of Financial Economics, Elsevier, vol. 3(1-2), pages 125-144.
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