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Hechos Estilizados de la Economía Ecuatoriana: El Ciclo Económico 1965-2008
[Stylized Facts of the Ecuadorian Economy: The Economic Chicle 1965-2008]

  • Gachet, Ivan
  • Maldonado, Diego
  • Oliva, Nicolas
  • Ramirez, Jose

This paper presents some short-term and long term stylized facts of the Ecuadorian economy, and gives a brief explanation of the circumstances under which these empirical regularities developed. To do so, we analyze macroeconomic aggregates from the real and fiscal sectors, and examine price variables in relation to the economic cycle. It is difficult have a high quality quarterly series in real terms for all variables so we use both quarterly and monthly time series. In the case of monthly data, we make use of the Index of Economic Activity (IDEAC, Spanish acronym) as a proxy for the GDP. The ultimate goal of this paper is to identify the interrelation of key macroeconomic variables and to lay down the empirical basis for the development of dynamic models consistent with the behavior of the Ecuadorian economy.

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File URL: https://mpra.ub.uni-muenchen.de/30280/1/MPRA_paper_30280.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 30280.

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Date of creation: Mar 2011
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Handle: RePEc:pra:mprapa:30280
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  1. Rómulo A. Chumacero & J. Rodrigo Fuentes, 2002. "On the determinants of the Chilean Economic Growth," Working Papers Central Bank of Chile 134, Central Bank of Chile.
  2. Gachet, Ivan & Maldonado, Diego & Pérez, Wilson, 2008. "Determinantes de la Inflación en una Economía Dolarizada: El Caso Ecuatoriano
    [Determinants of Inflation in a Dollarized Economy: The Case of Ecuador]
    ," MPRA Paper 17101, University Library of Munich, Germany.
  3. Celsa Machado, 2001. "Measuring Business Cycles: The Real Business Cycle Approach and Related Controversies," FEP Working Papers 107, Universidade do Porto, Faculdade de Economia do Porto.
  4. Luis Eduardo Arango T. & Mauricio Castillo, 1999. "¿Son Estilizadas Las Regularidades Del Ciclo Económico?Una Breve Revisión De La Literatura," BORRADORES DE ECONOMIA 003835, BANCO DE LA REPÚBLICA.
  5. César Calderón & Rodrigo Fuentes., 2011. "Characterizing the Business Cycles of Emerging Economies," Documentos de Trabajo 371, Instituto de Economia. Pontificia Universidad Católica de Chile..
  6. Agenor, Pierre-Richard & McDermott, C John & Prasad, Eswar S, 2000. "Macroeconomic Fluctuations in Developing Countries: Some Stylized Facts," World Bank Economic Review, World Bank Group, vol. 14(2), pages 251-85, May.
  7. Luis Fernando melo V. & Martha Misas A., . "Modelos Estructurales de Inflación en Colombia: Estimación a traves de Minimos Cuadrados Flexibles," Borradores de Economia 282, Banco de la Republica de Colombia.
  8. Edmund S. Phelps, 2007. "Macroeconomics for a Modern Economy," American Economic Review, American Economic Association, vol. 97(3), pages 543-561, June.
  9. Gachet, Ivan & Girjalva, Diego & Rivadeneira, Ana & Uribe, Carlos, 2007. "Un Marco de Consistencia Macroeconómica para la Economía Ecuatoriana: Un Regreso a los Fundamentos
    [Macroeconomic Consistency Framework for the Ecuadorian Economy: Getting Back to Fundamentals]
    ," MPRA Paper 16799, University Library of Munich, Germany.
  10. Jorge Enrique Restrepo & Claudio Soto, 2004. "Regularidades Empíricas de la Economía Chilena," Working Papers Central Bank of Chile 301, Central Bank of Chile.
  11. Mauricio Avella Gómez & Leopoldo Fergusson T., 2004. "El ciclo económico - Enfoques e ilustraciones - Los ciclos económicos de Estados Unidos y Colombia," BORRADORES DE ECONOMIA 002465, BANCO DE LA REPÚBLICA.
  12. Zeileis, Achim & Leisch, Friedrich & Hornik, Kurt & Kleiber, Christian, 2002. "strucchange: An R Package for Testing for Structural Change in Linear Regression Models," Journal of Statistical Software, Foundation for Open Access Statistics, vol. 7(i02).
  13. Kydland, Finn E & Prescott, Edward C, 1982. "Time to Build and Aggregate Fluctuations," Econometrica, Econometric Society, vol. 50(6), pages 1345-70, November.
  14. Long, John B, Jr & Plosser, Charles I, 1983. "Real Business Cycles," Journal of Political Economy, University of Chicago Press, vol. 91(1), pages 39-69, February.
  15. Norman Loayza & Humberto Lopez & Angel Ubide, 1999. "Comovement and Macroeconomic Interdependence: Evidence for Latin America, East Asia, and Europe," Working Papers Central Bank of Chile 60, Central Bank of Chile.
  16. Juan Carlos Parra Alvarez, 2008. "Hechos Estilizados de la Economía Colombiana:Fundamentos Empíricos para la Construcción y Evaluación de un Modelo DSGE," BORRADORES DE ECONOMIA 004602, BANCO DE LA REPÚBLICA.
  17. Hausmann, Ricardo & Klinger, Bailey, 2006. "Structural Transformation and Patterns of Comparative Advantage in the Product Space," Working Paper Series rwp06-041, Harvard University, John F. Kennedy School of Government.
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