Details about Paul Castillo

Access statistics for papers by Paul Castillo.

Last updated 2025-01-06. Update your information in the RePEc Author Service.

Short-id: pca201

Working Papers

2024

1. Escaping the Financial Dollarization Trap: The Role of Foreign Exchange Intervention
   IMF Working Papers, International Monetary Fund

2021

2. Does the Central Bank of Peru Respond to Exchange Rate Movements? A Bayesian Estimation of a New Keynesian DSGE Model with FX Interventions
   Documentos de Trabajo / Working Papers, Departamento de Economía - Pontificia Universidad Católica del Perú View citations (1)
3. Foreign Exchange Intervention, Capital Flows, and Liability Dollarization
   Working Papers, Banco Central de Reserva del Perú View citations (5)
   Also in GRU Working Paper Series, City University of Hong Kong, Department of Economics and Finance, Global Research Unit (2021) View citations (5)

2019

4. La comunicación de la política monetaria en los bancos centrales de América del Sur
   Working Papers, Banco Central de Reserva del Perú
   See also Journal Article La comunicación de la política monetaria en los bancos centrales de América del Sur, Revista Moneda, Banco Central de Reserva del Perú (2020) (2020)

2016

5. De-dollarization of credit in Peru: the role of unconventional monetary policy tools
   Working Papers, Banco Central de Reserva del Perú View citations (13)
6. From the “Great Inflation” to the “Great Moderation” in Peru: A Time Varying Structural Vector Autoregressions Analysis
   Working Papers, Banco Central de Reserva del Perú View citations (3)

2015

7. Distribución de Ingresos y Dolarización Endógena
   Working Papers, Banco Central de Reserva del Perú

2014

8. Inflation Targeting and Quantitative Tightening: Effects of Reserve Requirements in Peru
   IDB Publications (Working Papers), Inter-American Development Bank View citations (21)
   Also in LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library (2014)
   Working Papers, Banco Central de Reserva del Perú (2014) View citations (25)
   See also Journal Article Inflation Targeting and Quantitative Tightening: Effects of Reserve Requirements in Peru, Economía Journal, The Latin American and Caribbean Economic Association - LACEA (2014) View citations (24) (2014)
9. Spillovers, capital flows and prudential regulation in small open economies
   Working Papers, Peruvian Economic Association View citations (8)
   Also in Working Papers, Banco Central de Reserva del Perú (2014) View citations (8)
   BIS Working Papers, Bank for International Settlements (2014) View citations (4)
10. Terms of Trade and Total Factor Productivity: Empirical evidence from Latin American emerging markets
    Working Papers, Banco Central de Reserva del Perú View citations (6)

2012

11. Inflation Dynamics in the Presence of Informal Labour Markets
    BIS Working Papers, Bank for International Settlements View citations (13)
    See also Journal Article Inflation Dynamics in the Presence of Informal Labour Markets, Journal Economía Chilena (The Chilean Economy), Central Bank of Chile (2012) View citations (14) (2012)

2011

12. DOES THE EXCHANGE RATE PASS-THROUGH INTO PRICES CHANGE WHEN INFLATION TARGETING IS ADOPTED? THE PERUVIAN CASE STUDY BETWEEN 1994 AND 2007
    Documentos de Trabajo / Working Papers, Departamento de Economía - Pontificia Universidad Católica del Perú View citations (2)
    See also Journal Article Does the exchange rate pass-through into prices change when inflation targeting is adopted? The Peruvian case study between 1994 and 2007, Journal of Macroeconomics, Elsevier (2012) View citations (21) (2012)

2010

13. Inflation, Oil Price Volatility and Monetary Policy
    Working Papers, Banco Central de Reserva del Perú View citations (5)
    See also Journal Article Inflation, oil price volatility and monetary policy, Journal of Macroeconomics, Elsevier (2020) View citations (10) (2020)
14. Los Mecanismos de Transmisión de la Política Monetaria en Perú
    Working Papers, Banco Central de Reserva del Perú View citations (2)
    See also Journal Article Los mecanismos de transmisión de la política monetaria en Perú, Revista Estudios Económicos, Banco Central de Reserva del Perú (2011) View citations (5) (2011)
15. Monetary Policy in the presence of Informal Labour Markets
    Working Papers, Banco Central de Reserva del Perú View citations (27)

2009

16. A Dynamic Stochastic General Equilibrium Model with Dollarization for the Peruvian Economy
    Working Papers, Banco Central de Reserva del Perú View citations (9)
17. Money, Infation and Interest Rate: Does the Link Change when the Policy Instrument Changes?
    Working Papers, Banco Central de Reserva del Perú

2008

18. Facing up a sudden stop of capital flows: Policy lessons from the 90's peruvian experience
    Working Papers, Banco Central de Reserva del Perú View citations (5)

2007

19. Dollarization Persistence and Individual Heterogeneity
    Working Papers, Banco Central de Reserva del Perú View citations (3)
    Also in Macroeconomics, University Library of Munich, Germany (2005) View citations (5)
    See also Journal Article Dollarization persistence and individual heterogeneity, Journal of International Money and Finance, Elsevier (2010) View citations (19) (2010)
20. Inflation Premium and Oil Price Volatility
    CEP Discussion Papers, Centre for Economic Performance, LSE View citations (12)
    Also in Computing in Economics and Finance 2006, Society for Computational Economics (2006) View citations (2)
    LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library (2007) View citations (9)
    Working Papers Central Bank of Chile, Central Bank of Chile (2005) View citations (1)
    Macroeconomics, University Library of Munich, Germany (2006) View citations (2)
21. Monetary Policy, Regime Shifts, and Inflation Uncertainty in Peru (1949-2006)
    Working Papers, Banco Central de Reserva del Perú View citations (12)

2006

22. An Estimated Stochastic General Equilibrium Model with Partial Dollarization: A Bayesian Approach
    Working Papers Central Bank of Chile, Central Bank of Chile View citations (28)
    See also Journal Article An Estimated Stochastic General Equilibrium Model with Partial Dollarization: A Bayesian Approach, Open Economies Review, Springer (2013) View citations (33) (2013)
23. From Money Aggregates to Interest Rate Rules in a Small Open Economy: A Second Order Approach
    Computing in Economics and Finance 2006, Society for Computational Economics View citations (3)
24. Measuring the Natural Interest Rate for the Peruvian Economy
    Working Papers, Banco Central de Reserva del Perú View citations (7)
25. Stylized Facts of the Peruvian Economy
    Working Papers, Banco Central de Reserva del Perú

Journal Articles

2024

1. Time-Varying Effects of External Shocks on Macroeconomic Fluctuations in Peru: An Empirical Application using TVP-VAR-SV Models
   Open Economies Review, 2024, 35, (5), 1015-1050

2023

2. Effects of external shocks on macroeconomic fluctuations in Pacific Alliance countries
   Economic Modelling, 2023, 124, (C) View citations (10)
3. Interoperabilidad: acelerando la adopción y uso de los pagos digitales en el Perú
   Revista Moneda, 2023, (193), 4-10
4. Moneda digital del banco central: promoviendo pagos digitales en el Perú
   Revista Moneda, 2023, (194), 37-42

2022

5. Evolution of Monetary Policy in Peru: An Empirical Application Using a Mixture Innovation TVP-VAR-SV Model*
   (Metas de Inflación en Una Economía Dolarizada: La Experencia Del Perú)
   CESifo Economic Studies, 2022, 68, (1), 98-126 View citations (9)

2020

6. Inflation, oil price volatility and monetary policy
   Journal of Macroeconomics, 2020, 66, (C) View citations (10)
   See also Working Paper Inflation, Oil Price Volatility and Monetary Policy, Working Papers (2010) View citations (5) (2010)
7. La comunicación de la política monetaria en los bancos centrales de América del Sur
   Revista Moneda, 2020, (181), 4-9
   Also in Revista Estudios Económicos, 2019, (37), 9-30 (2019)
   See also Working Paper La comunicación de la política monetaria en los bancos centrales de América del Sur, Working Papers (2019) (2019)

2019

8. Conferencia internacional sobre tipos de cambio, política monetaria y fricciones financieras
   Revista Moneda, 2019, (180), 10-12
9. Desarrollo reciente del mercado cambiario en el Perú
   Revista Moneda, 2019, (180), 4-9
10. El esquema de metas de inflación en América del Sur: Evaluación y perspectivas
    Revista Moneda, 2019, (179), 8-12
11. La Política Monetaria del BCRP y la tasa de interés de la FED
    Revista Moneda, 2019, (177), 4-6 View citations (1)
12. La política monetaria y el ciclo económico
    Revista Moneda, 2019, (179), 4-7 View citations (1)

2018

13. Monedas digitales: Una perspectiva desde la Banca Central
    Revista Moneda, 2018, (173), 24-30
14. Taxonomía de la desdolarización del crédito
    Revista Moneda, 2018, (174), 4-8 View citations (1)

2017

15. Dolarización, volatilidad cambiaria y retos para la operatividad de la política monetaria
    Revista Moneda, 2017, (169), 8-12 View citations (1)
16. Factores globales e idiosincráticos en la dinámica de la inflación en América Latina
    Revista Estudios Económicos, 2017, (34), 9-30
17. Intervención con Derivados Cambiarios: Motivos, instrumentos y experiencias en América Latina
    Revista Moneda, 2017, (171), 4-10

2015

18. Cambios en la volatilidad del PBI en el Perú: el rol de la estabilidad monetaria
    Revista Moneda, 2015, (162), 4-8 View citations (1)
19. La Conquista del Sol: Resultados de las medidas del BCRP para acelerar la desdolarización de la economía
    Revista Moneda, 2015, (164), 4-10 View citations (1)
20. Tendencias de las emisiones de bonos en el exterior de empresas en América Latina
    Revista Estudios Económicos, 2015, (30), 57-72

2014

21. Inflation Targeting and Quantitative Tightening: Effects of Reserve Requirements in Peru
    Economía Journal, 2014, Volume 15 Number 1, (Fall 2014), 133-175 View citations (24)
    See also Working Paper Inflation Targeting and Quantitative Tightening: Effects of Reserve Requirements in Peru, IDB Publications (Working Papers) (2014) View citations (21) (2014)
22. Términos de intercambio y la productividad total de factores
    Revista Moneda, 2014, (159), 13-15 View citations (1)
23. Términos de intercambio y productividad total de factores: Evidencia empírica de los mercados emergentes de América latina
    Revista Estudios Económicos, 2014, (28), 27-46 View citations (1)

2013

24. An Estimated Stochastic General Equilibrium Model with Partial Dollarization: A Bayesian Approach
    Open Economies Review, 2013, 24, (2), 217-265 View citations (33)
    See also Working Paper An Estimated Stochastic General Equilibrium Model with Partial Dollarization: A Bayesian Approach, Working Papers Central Bank of Chile (2006) View citations (28) (2006)

2012

25. Algunas lecciones de la crisis financiera para el diseño de política monetaria
    Revista Moneda, 2012, (150), 12-15 View citations (1)
26. Does the exchange rate pass-through into prices change when inflation targeting is adopted? The Peruvian case study between 1994 and 2007
    Journal of Macroeconomics, 2012, 34, (4), 1154-1166 View citations (21)
    See also Working Paper DOES THE EXCHANGE RATE PASS-THROUGH INTO PRICES CHANGE WHEN INFLATION TARGETING IS ADOPTED? THE PERUVIAN CASE STUDY BETWEEN 1994 AND 2007, Documentos de Trabajo / Working Papers (2011) View citations (2) (2011)
27. El rol de prestamista de última instancia de los bancos centrales ¿cuánto ha cambiado a raíz de la crisis financiera internacional?
    Revista Moneda, 2012, (151), 4-7
28. Entrevista al profesor Kiyotaki durante su visita al BCRP
    Revista Moneda, 2012, (152), 16-17
29. Inflation Dynamics in the Presence of Informal Labour Markets
    Journal Economía Chilena (The Chilean Economy), 2012, 15, (1), 4-31 View citations (14)
    See also Working Paper Inflation Dynamics in the Presence of Informal Labour Markets, BIS Working Papers (2012) View citations (13) (2012)
30. La dolarización de los depósitos ¿Por qué las empresas y las familias se comportan de forma diferente?
    Revista Moneda, 2012, (152), 7-10
31. Regime Shifts and Inflation Uncertainty in Peru
    Journal of Applied Economics, 2012, 15, (1), 71-87 View citations (6)
    Also in Journal of Applied Economics, 2012, 15, 71-87 (2012) View citations (13)

2011

32. Los mecanismos de transmisión de la política monetaria en Perú
    Revista Estudios Económicos, 2011, (21), 41-63 View citations (5)
    See also Working Paper Los Mecanismos de Transmisión de la Política Monetaria en Perú, Working Papers (2010) View citations (2) (2010)
33. Política macro-prudencial en los países de la región
    Revista Moneda, 2011, (149), 4-7 View citations (1)
34. Tratamiento contable de las fluctuaciones cambiarias en el balance del BCRP
    Revista Moneda, 2011, (147), 28-29

2010

35. Dollarization persistence and individual heterogeneity
    Journal of International Money and Finance, 2010, 29, (8), 1596-1618 View citations (19)
    See also Working Paper Dollarization Persistence and Individual Heterogeneity, Working Papers (2007) View citations (3) (2007)
36. Instrumentos no convencionales de política monetaria ¿Cuándo y por qué?
    Revista Moneda, 2010, (144), 4-8 View citations (2)
37. Respuestas de Política Económica frente al influjo de capitales
    Revista Moneda, 2010, (145), 21-23

2009

38. Crisis financieras y manejo de reservas en el Perú
    Revista Estudios Económicos, 2009, (17), 85-112 View citations (4)
39. Lecciones de la crisis rusa para enfrentar la crisis financiera global mundial
    Revista Moneda, 2009, (139), 43-48 View citations (2)
40. Política monetaria en periodos de turbulencia financiera
    Revista Moneda, 2009, (141), 20-24
41. Reservas Internacionales, choques externos y políticas contra-cíclicas
    Revista Moneda, 2009, (142), 25-30
42. Un modelo de equilibrio general con dolarización para la economía peruana
    Revista Estudios Económicos, 2009, (17), 9-50 View citations (20)

2008

43. Dinero, inflación y la credibilidad del Banco Central
    Revista Moneda, 2008, (137), 30-33
44. Hacia una ley del trabajo que genere empleo adecuado en el Perú
    Revista Moneda, 2008, (138), 29-34
45. Política monetaria en una economía con dolarización parcial
    Revista Moneda, 2008, (138), 25-28

2007

46. Hechos estilizados de la economía peruana
    Revista Estudios Económicos, 2007, (14), 33-75 View citations (18)

2006

47. Estimación de la tasa natural de interés para la economía peruana
    Monetaria, 2006, XXIX, (3), 261-298 View citations (4)
48. La política monetaria frente a la dolarización
    Revista Moneda, 2006, (132), 24-28

1998

49. Evaluación de portafolio de inversionistas institucionales: fondos mutuos y fondos de pensionistas
    Revista Estudios Económicos, 1998, (3), 1-38

1997

50. Desestacionalización de agregados financieros: 1991 - 1996
    Revista Estudios Económicos, 1997, (1), 93-104

Books

2022

1. Historia del Banco Central y la Política Monetaria de Perú, vol 2
   Libros, Banco Central de Reserva del Perú

2010

2. Los términos de intercambio como impulsores de fluctuaciones económicas en economías en desarrollo: estudio empírico
   Premio de Banca Central Rodrigo Gómez / Central Banking Award "Rodrigo Gómez", Centro de Estudios Monetarios Latinoamericanos, CEMLA View citations (5)
3. The Terms of Trade as Drivers of Economic Fluctuations in Developing Economies: An Empirical Study
   Premio de Banca Central Rodrigo Gómez / Central Banking Award "Rodrigo Gómez", Centro de Estudios Monetarios Latinoamericanos, CEMLA View citations (9)

2006

4. Why Dollarization is so persistent?
   Premio de Banca Central Rodrigo Gómez / Central Banking Award "Rodrigo Gómez", Centro de Estudios Monetarios Latinoamericanos, CEMLA
5. ¿Por qué la dolarización es persistente?
   Premio de Banca Central Rodrigo Gómez / Central Banking Award "Rodrigo Gómez", Centro de Estudios Monetarios Latinoamericanos, CEMLA

Chapters

2022

1. La política monetaria de fines de los noventa: algunas lecciones de la crisis asiática y rusa
   Chapter 12 in Historia del Banco Central y la Política Monetaria de Perú, 2022, vol. 2, pp 111-140

2019

2. International reserves and forex intervention in Peru
   A chapter in Reserve management and FX intervention, 2019, vol. 104, pp 191-207 View citations (1)

2016

3. Términos de intercambio y productividad total de factores en el Perú
   Chapter 6 in Productividad en el Perú: medición, determinantes e implicancias, 2016, vol. 1, pp 145-171

2015

4. Peru’s Recent Experience in Managing Capital Flows
   Palgrave Macmillan