nep-lam New Economics Papers
on Central and South America
Issue of 2014‒10‒13
eight papers chosen by

  1. Tracking Progress Toward Sustainable Energy for All in Latin America and the Caribbean By Elisa Portale; Joeri de Wit
  2. Spatial Income Inequality in Chile and the Rol of Spatial Labor Sorting By Dusan Paredes Araya; Tomothy M Komarek
  3. Currency Mismatch: New Database and Indicators for Latin America and the Caribbean By Martín Tobal
  4. Inflation Targeting in Brazil: Constructing Credibility under Exchange Rate Volatility By MINELLA André; DE FREITAS Paulo Springer; GOLDFAJN Ilan; KFOURY MUINHOS Marcelo
  5. Finance, Foreign (Direct) Investment and Dutch Disease: The Case of Colombia By Alberto Botta; Antoine Godin; Marco Missaglia
  6. Energy from Sugarcane Bagasse under Electricity Rationing in Brazil: A Computable General Equilibrium Model By SCARAMUCCI José A.; PERIN Clovis; PULINO Petronio; BORDONI Orlando F.; DA CUNHA Marcelo P.; CORTEZ Luís A. B.
  7. Tres Décadas de Brechas Salariales por Raza en Brasil. Un Análisis Más Allá de la Media By María Florencia Pinto
  8. Impact of the Technical Requirements on the Brazilian Mango Exportations By Heloisa Burnquist; Mauricio Jorge Pinto de Souza; Mirian Rumenos Piedade Bacchi

  1. By: Elisa Portale; Joeri de Wit
    Keywords: Energy - Energy Demand Energy - Energy and Environment Energy Conservation and Efficiency Energy - Energy Production and Transportation Environment - Environment and Energy Efficiency
    Date: 2014–09
  2. By: Dusan Paredes Araya (IDEAR - Department of Economics, Universidad Católica del Norte - Chile); Tomothy M Komarek (IDEAR - Department of Economics, Universidad Católica del Norte - Chile)
    Abstract: The spatial income inequality in Latin American countries is a recent academic affair. Particularly, the case of Chile highlights around the world because it has one of the highest individual and spatial inequality rates. This article analyzes the spatial income inequality in Chile during 1992 2011 evaluating the role of the spatial labor sorting through multilevel models. The findings show that human capital doesn't allocate randomly across the space but its spatial concentration at the biggest urban centers impacts significantly the income inequality between counties. These findings motivate the discussion about spatial dimension of the inequality and suggest that policymakers should consider ways to spread human capital throughout the nation as an alternative to reduce spatial inequality.
    Keywords: Spatial income inequality, spatial labor sorting, human capital, multilevel regression.
    JEL: O15 O18 R12 R23
    Date: 2013–04
  3. By: Martín Tobal (Centro de Estudios Monetarios Latinoamericanos)
    Abstract: I construct a database on currency mismatch in the private banking sector that offers several advantages over existing data sources. The data are broken down by currency and, therefore, are better suited for calculating currency mismatches than the data based on the residence principle that are used in the literature. The data are comparable at the highest possible level across countries because the collection process is based on accounting manuals. The database is suitable for policy analysis and cross-country comparative studies since the data are collected quarterly, cover a wide range of economies and yield straight-forward measures of the success in implementing prudential policies. Employing the two indicators that I constructed, I show that the degree of currency mismatch differs across exchange rate regimes and is lower in countries that follow de-dollarization policies. I also demonstrate that the banking sector took short foreign currency positions in Latin America and the Caribbean for the first time in two decades beginning in the late 2000s.
    Keywords: currenyc mismatch, partial dollarization, financial stability.
    JEL: F30
    Date: 2013–11
  4. By: MINELLA André; DE FREITAS Paulo Springer; GOLDFAJN Ilan; KFOURY MUINHOS Marcelo
  5. By: Alberto Botta (Department of Political and Social Sciences, University of Pavia and Department of Law and Economics, Mediterranean University of Reggio Calabria); Antoine Godin (University of Limerick); Marco Missaglia (Universidad Nacional de Colombia)
    Abstract: In the recent years the Colombian economy grew relatively rapidly, but it was a biased growth. The energy sector (the locomotora minero-energetica, to use the rhetorical expression of President Juan Manuel Santos) grew much faster than the rest of the economy. The manufacturing sector registered a negative rate of growth. These are the symptoms of the well-known “Dutch disease” and the case of Colombia has been already widely analyzed in the literature. In this paper, we investigate a different reason why an economy may suffer from an expansion of the mining sector. In particular, we want to shed some light on the financial side of the economy and its links with a resource-boom. We can observe several unsustainable dynamics: (i) a traditional Dutch Disease due to a large increase in mining exports and a significant exchange rate appreciation, (ii) a massive increase in foreign direct investment (FDI), particularly in the mining sector (iii) a rather passive monetary policy, aiming at increasing purchasing power via exchange rate appreciation, (iv) recently, a large dividends distribution from Colombia to the rest of the world and the accumulation of mounting financial liabilities. The paper shows why these dynamics may be interpreted as a case of financial Dutch disease and constitute a potential danger for the stability of the Colombian economy. Some policy recommendations are discussed.
    Keywords: Colombia, Dutch Disease, Balance of Payments
    JEL: F40 F21 F32
    Date: 2014–09
  6. By: SCARAMUCCI José A.; PERIN Clovis; PULINO Petronio; BORDONI Orlando F.; DA CUNHA Marcelo P.; CORTEZ Luís A. B.
  7. By: María Florencia Pinto (CEDLAS-UNLP)
    Abstract: Este trabajo estudia las disparidades salariales por raza en Brasil durante el período 1980-2010. Utilizando microdatos de censos brasileros, se encuentra que la mayor parte de la brecha observada entre el ingreso de un blanco y un afrodescendiente se debe a diferencias en características productivas, siendo el nivel educativo el mayor determinante. A pesar de ello, entre 20 y 30 por ciento de la diferencia de ingresos promedio observada no es explicada por ningún atributo determinante de la productividad, y esta porción es creciente en el tiempo. Asimismo, el análisis de la brecha salarial para distintos cuantiles de la distribución del ingreso, revela que el componente no explicado tiende a desaparecer en la cola inferior de la distribución de ingresos, y se acrecienta en la cola superior, evidenciando un posible techo de cristal para los afrodescendientes.
    JEL: J15 J31 J71
    Date: 2014–09
  8. By: Heloisa Burnquist; Mauricio Jorge Pinto de Souza; Mirian Rumenos Piedade Bacchi

General information on the NEP project can be found at For comments please write to the director of NEP, Marco Novarese at <>. Put “NEP” in the subject, otherwise your mail may be rejected.
NEP’s infrastructure is sponsored by the School of Economics and Finance of Massey University in New Zealand.