Working Papers

The Peruvian Economic Association (PEA) working paper series facilitates the dissemination of research by its members and the interested researchers to encourage discussion and comments. The working papers have not been peer-reviewed or been subject to the review by the PEA members.

If you wish to contribute to our series, please contact to the series editor César Carrera (


Author(s) Title Date
106 Francisco B. Galarza; Gabriella Wong The Impact of Price Information on Consumer Behavior: An Experiment December 2017
105 Juan F. Castro Revisiting Dynamic Complementarity in the Production of Cognitive Skill and its Implications for a Cognitive Achievement Gap Decomposition December 2017
104 Juan F. Castro; Bruno Esposito The Effect of Teacher Bonuses on Learning Outcomes and the Distribution of Teacher Skill: Evidence from Rural Schools in Peru December 2017
103 Miguel Saldarriaga; Pablo del Aguila; Kevin Gershy-Damet Has inflation targeting anchored inflation expectations? Evidence from Peru September 2017
102 Fernando J. Pérez Forero Measuring the Stance of Monetary Policy in a Time-Varying World August 2017
101 Javier Torres; Fiorella Parra; Jorge Rubio Transmisión educativa intergeneracional en el Perú: un cálculo para las generaciones nacidas entre 1950-1989 July 2017
100 Renzo Castellares; Morgane Fouché The Determinants of Social Conflicts in Mining Production Areas June 2017
99 Augusto Mendoza Calderón El Efecto del Empleo sobre la Violencia Doméstica: Evidencia para las Mujeres Peruanas June 2017
98 Miguel Angel Saldarriaga Credit Booms in Commodity Exporters June 2017
97 Alex Contreras M.; F. Martín Martinez P.; Fernando Alonso Regalado S.; Ketty Vásquez R. Impacto del Fenómeno de El Niño a la economía Peruana May 2017
96 Oswaldo Molina Innovation in an Unfavorable Context: Local Mining Suppliers in Peru May 2017
95 Alex Contreras M.; Zenón Quispe M.; Fernando Alonso Regalado S.; F. Martín Martinez P. Real dollarization and monetary policy in Peru April 2017
94 Alex Contreras M.; Pablo Del Aguila R.; Fernando Alonso Regalado S.; F. Martín Martinez P. Brecha de la capacidad de utilización como medida alternativa de la brecha producto: Un enfoque para Perú basado en micro datos April 2017
93 Constantino Hevia; Norman Loayza; Claudia Meza-Cuadra Industrial Policies vs Public Goods under Asymmetric Information April 2017
92 César Carrera From Inflation Targeting to achieving Economic Growth April 2017
91 César Carrera; Jairo Flores Modelling and forecasting money demand: divide and conquer April 2017
90 Miguel Jaramillo-Baanante Fertility and women’s work in a demographic transition: evidence from Peru March 2017
89 Juan Aquino-Chávez; N.R. Ramírez-Rondán Estimating Factor Shares from Nonstationary Panel Data February 2017


Author(s) Title Date
88 Pablo Lavado; Magally Gonzales What is the Relationship between Cognitive and Non-Cognitive Skills and the Adoption of Risk Behavior in Peru? December 2016
87 David Florian Hoyle; Johanna L. Francis Unemployment and Gross Credit Flows in a New Keynesian Framework December 2016
86 Olga A. Rud; Jean Paul Rabanal; John Horowitz Does Competition Aggravate Moral Hazard? A Multi-Principal-Agent Experiment December 2016
85 Nelson R. Ramírez-Rondán Balance Sheet and Currency Mismatch: Evidence for Peruvian Firms December 2016
84 Debora Reyna; Nikita Céspedes La oferta laboral en Perú December 2016
83 Augusta Alfageme; Nelson R. Ramírez Rondán Acceso a servicios financieros de los hogares en el Perú December 2016
82 José Luis Nolazo; Claudio Bravo-Ortega Instituciones, recursos naturales y sus efectos en el crecimiento económico: un sistema de ecuaciones simultáneas en panel de datos December 2016
81 Gonzalo Manrique; Gustavo Yamada Los determinantes y la persistencia de la sobreeducación en el Perú December 2016
80 José Luis Nolazco; Patricia Lengua-Lafosse; Nikita Céspedes Contribución de los choques externos en el crecimiento económico del Perú: un modelo semi-estructural December 2016
79 Pablo Lavado; Gonzalo Rivera Identifying Treatment Effects with Data Combination and Unobserved Heterogeneity December 2016
78 P. Lavado; J.J. Martínez; G. Yamada Efectos persistentes del subempleo profesional, 2004-2014 December 2016
77 Guillermo Jopen Sánchez Measuring Technical Efficiency in Primary Education: Evidences for Peruvian Case November 2016
76 Norman V. Loayza Informality in the Process of Development and Growth October 2016
75 James Sampi High Dimensional Factor Models: an Empirical Bayes Approach October 2016
74 Paula Lourdes Hernández Verme; Mónica Karina Rosales Pérez Applications of sudden stops of international capital to the Mexican economy September 2016
73 Alexandra Ninoska Málaga Mellado Estudio sobre la dinámica de la distribución de ingresos para el Perú desde el 2004 hasta el 2013: Descomposición bajo el enfoque de oportunidades September 2016
72 Joana Chapa Cantú; Javier Oyakawa Nakamoto Impactos Económicos Regionales del “Shale Gas” en la Reforma Energética de México September 2016
71 Arturo L. Vásquez Cordano; Abdel M. Zellou Where are natural gas prices heading, and what are the environmental consequences for Latin America? September 2016
70 César Urquizo; Diego Winkelried The economic effects of international administrations: The cases of Kosovo and East Timor June 2016
69 Norman V. Loayza La productividad como clave del crecimiento y el desarrollo: en el Perú y el mundo May 2016
68 Fernando M. Aragón; Juan Jose Miranda; Paulina Oliva Particulate matter and labor supply: the role of caregiving and non-linearities May 2016
67 Saki Bigio; Jennifer La’O Financial Frictions in Production Networks April 2016
66 César Carrera Identifying the exchange-rate balance sheet effect over firms April 2016
65 Luis Felipe Zegarra Usury laws and Private Credit in Lima, Peru. Evidence from notarized contracts March 2016
64 Roberto Urrunaga; Sara Wong When the total is more than the sum of parts: Infrastructure complementarities March 2016
63 Fernando J. Pérez Forero; Marco Vega Asymmetric Exchange Rate Pass-through: Evidence from Nonlinear SVARs February 2016
62 Diether W. Beuermann; Rafael Anta; Patricia Garcia; Alessandro Maffioli; Jose Perez Lu; Maria Fernanda Rodrigo Information and Communication Technologies, Prenatal Care Services and Neonatal Health February 2016
61 Omar O. Chisari; Leonardo J. Mastronardi; Carlos A. Romero; Arturo L. Vásquez Cordano The cost of failing to prevent gas supply interruption: a CGE assessment for Peru February 2016
60 Raúl Hopkins Facilidad para hacer negocios y desempeño económico: vínculos y oportunidades de política February 2016


Author(s) Title Date
59 Pablo Lavado; Gustavo Yamada; Ana Paula Franco; Emilia Abusada Skills for the First Job December 2015
58 Pablo Lavado, Joan Martínez; Gustavo Yamada Calidad de la educación superior y desigualdad en los retornos en el Perú, 2012 December 2015
57 Gustavo Yamada; Pablo Lavado; Nelson Oviedo Valor de la Información en Educación Superior y Efecto de la Calidad Universitaria en Remuneraciones en el Perú December 2015
56 Javier Olivera Efectos fiscales y distributivos de un sistema de pensiones multi-pilar en Perú December 2015
55 Nikita Céspedes Reynaga Crecer no es Suficiente para Reducir la Informalidad October 2015
54 Nikita Céspedes Reynaga Creación y Destrucción de Empleos e Informalidad October 2015
53 Claudia M. Landeo; Kathryn E. Spier Incentive Contracts for Teams: Experimental Evidence October 2015
52 Claudia M. Landeo; Maxim Nikitin Financially-Constrained Lawyers October 2015
51 Roberto Duncan Does the US Current Account Show a Symmetric Behavior over the Business Cycle? September 2015
50 Cesar Carrera; Alan Ledesma Aggregate Inflation Forecast with Bayesian Vector Autoregressive Models July 2015
49 Roberto Duncan Simple Models to Understand and Teach Business Cycle Macroeconomics for Emerging Market and Developing Economies July 2015
48 Jean Paul Rabanal; Olga A. Rabanal Does competition affect truth-telling? An experiment with rating agencies June 2015
47 Roberto Chang; Constantino Hevia; Norman Loayza Privatization and Nationalization Cycles June 2015
46 Luis Varona Castillo Modelo de supervivencia empresarial a partir del índice Z de Altman May 2015
45 Luis Gonzalo Llosa; Ugo Panizza Peru’s Great Depression A Perfect Storm? May 2015
44 Luis Gonzalo Llosa; Venky Venkateswaran Efficiency with Endogenous Information Choice May 2015
43 Carlos Carrillo-Tudela; Bart Hobijn; Powen She; Ludo Visschers The Extent and Cyclicality of Career Changes: Evidence for the U.K. April 2015
42 Ken Burdett; Carlos Carrillo-Tudela; Melvyn Coles Wage Inequality April 2015
41 Carlos Carrillo-Tudela; Eric Smith Search Capital April 2015
40 Carlos Carrillo-Tudela; Leo Kaas Worker Mobility in a Search Model with Adverse Selection April 2015
39 Luis Felipe Zegarra Political Instability, Institutions and Private Capital Markets in Lima, Peru April 2015
38 Juan Carlos Carbajal; Jonathan Hall; Hongyi Li Inconspicuous Conspicuous Consumption April 2015
37 Juan Carlos Carbajal; Rudolf Müller Implementability under Monotonic Transformations in Differences April 2015
36 Juan Carlos Carbajal; Jeffrey C. Ely A Model of Price Discrimination under Loss Aversion and State-Contingent Reference Points April 2015
35 César Carrera; Fernando Pérez Forero; Nelson Ramírez-Rondán Effects of U.S. Quantitative Easing on Latin American Economies April 2015
34 Jean Paul Rabanal; Olga A. Rabanal A Simulation on the Evolution of Markets: Call Market, Decentralized and Posted Offer April 2015
33 Norman Loayza; Jamele Rigolini The Local Impact of Mining on Poverty and Inequality: Evidence from the Commodity Boom in Peru March 2015
32 Nelson Ramírez-Rondán Maximum Likelihood Estimation of Dynamic Panel Threshold Models March 2015
31 Martin Paredes Brand Loyalty, Volume of Trade and Leapfrogging: Consumer Behavior in Markets of Durable Experience Goods February 2015
30 Jean Paul Rabanal; Olga A. Rabanal The effects of Chinese competition and demand on Peruvian Exporters February 2015
29 Francisco B. Galarza; J. Guillermo Díaz Productividad total de factores en la agricultura peruana: estimación y determinantes February 2015
28 César Carrera Tracking the Exchange Rate Management in Latin America January 2015


Author(s) Title Date
27 Nikita Céspedes; Maria E. Aquije; Alan Sánchez; Rafael Vera-Tudela Productividad y tratados de libre comercio a nivel de empresas en Perú December 2014
26 Nikita Céspedes; Maria E. Aquije; Alan Sánchez; Rafael Vera-Tudela Productividad sectorial en el Perú: un análisis a nivel de fi rmas December 2014
25 Nikita Céspedes General Equilibrium Analysis of Conditional Cash Transfers December 2014
24 Saki Bigio Endogenous Liquidity and the Business Cycle November 2014
23 Pablo Lavado; Joan J. Martínez; Gustavo Yamada ¿Una promesa incumplida? La calidad de la educación superior universitaria y el subempleo profesional en el Perú November 2014
22 Saki Bigio Financial Risk Capacity November 2014
21 Javier Olivera The effects of a multi-pillar pension reform: The case of Peru October 2014
20 Roberto Duncan A Threshold Model of the US Current Account October 2014
19 Klaus Schmidt-Hebbel; José-Carlos Tello The Political Economy of Growth, Inequality, the Size and Composition of Government Spending September 2014
18 Javier Bianchi; Saki Bigio Banks, Liquidity Management and Monetary Policy September 2014
17 Nikita Céspedes-Reynaga; Fabrizio Orrego Competencia de intermediarios financieros en Perú September 2014
16 Pablo Lavado; Luciana Velarde; Gustavo Yamada Cognitive and Socioemotional Skills and Wages: The role of latent abilities on the gender wage gap in Peru August 2014
15 Alejandra Mizala; Hugo Ñopo Measuring the Relative Pay of Latin American School Teachers at the turn of the 20th Century August 2014
14 Rafael Novella; Javier Olivera Mental Retirement and Non-Contributory Pensions for the Elderly Poor in Peru August 2014
13 Luis Varona Castillo; Laura Gismera Tierno; Ricardo Gimeno Nogues Supervivencia de las empresas según indicadores empresariales. Modelo lineal mixto con datos de panel, período 2004 al 2008, caso de España August 2014
12 Diether W. Beuermann; Inder J. Ruprah; Ricardo E. Sierra Do remittances help smooth consumption during health shocks? Evidence from Jamaica April 2014
11 Nikita Céspedes; Nelson Ramírez-Rondán Total Factor Productivity Estimation in Peru: Primal and Dual Approaches March 2014
10 Paul Castillo; Cesar Carrera; Marco Ortiz; Hugo Vega Spillovers, capital flows and prudential regulation in small open economies March 2014
9 Luis Chávez-Bedoya; Nelson Ramírez-Rondán Comparando Comisiones por Flujo y Saldo en Fondos de Pensiones con Cuentas Individuales de Capitalización March 2014
8 Michael Kuklik; Nikita Céspedes Optimal Taxation and Life Cycle Labor Supply Profi le February 2014
7 Luis-Gonzalo Llosa How Do Terms of Trade Affect Productivity? The Role of Monopolistic Output Markets February 2014
6 Gabriel Natividad Quotas, Productivity and Prices: The Case of Anchovy Fishing February 2014
5 Peter Paz; Carlos Urrutia Economic Growth and Wage Stagnation in Peru: 1998-2012 February 2014
4 Norman V. Loayza; Jamele Rigolini; Oscar Calvo-González More than You Can Handle. Decentralization and Spending Ability of Peruvian Municipalities January 2014
3 César Calderón; Roberto Duncan; Klaus Schmidt-Hebbel Do Good Institutions Promote Counter-cyclical Macroeconomic Policies? January 2014
2 Nikita Céspedes; Ana Paola Gutiérrez; Vanessa Belapatiño Determinantes de la duración del desempleo en una economía con alta informalidad January 2014
1 César Carrera; Nelson Ramírez-Rondán Inflation, Information Rigidity, and the Sticky Information Phillips Curve January 2014