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

Pedro Elosegui and Nicolás Grosman
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Nicolás Grosman: LiD-McKinsey

Económica, 2016, vol. 62, 23-53

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.

Keywords: New Keynesian model; Bayesian methods; Oil Value Added; Fiscal Policy. (search for similar items in EconPapers)
JEL-codes: E02 O11 Q43 (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (1)

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Related works:
Journal Article: Structural Economic Model for Ecuador: a Dollar-ized and Oil-ized Economy (2016)
Working Paper: Structural Economic Model for Ecuador: a Dollar-ized and Oil-ized Economy (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:akh:journl:602

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