A common view held by academics as well as policymakers assigns an important role to global factors as drivers of fluctuations in economic activity in emerging market economies (EMEs). This follows naturally from the fact ...

The deep and prolonged recession triggered by the global financial crisis of 2007–2009 led to a large increase in the unemployment rate in most advanced economies. Ten years later, at the time of writing this paper, the ...

This volume collects some of the papers presented at the XXV Annual Conference of the Central Bank of Chile, which took place in November 2022 in Santiago, Chile.1 The theme of the conference was Heterogeneity in ...

World commodity prices are known to display long cycles. These cycles have a periodicity of 20 to 30 years and are called commodityprice supercycles. Figure 1 displays the time paths of eleven commodity prices deflated by ...