Esteban Pérez Caldentey
Biographic Data
| ID | 5990772 |
|---|---|
| NAME | Esteban Pérez Caldentey |
| GIVEN NAMES | Esteban Pérez |
| FAMILY NAME | Caldentey |
| SIGNATURE | CALDENTEY E P |
| AFFILIATIONS | Economic Commission for Latin America and the Caribbean, Chile |
| ORCID | 0000-0002-6365-6301 |
| VERIFIED | Yes |
| TOTAL WORKS | 15 |
| TOTAL CITATIONS | 20 |
| AUTHOR COUNT | 13 |
| EDITOR COUNT | 2 |
| FIRST PUBLICATION YEAR | 2006 |
| LATEST PUBLICATION YEAR | 2025 |
| H-INDEX | 2 |
Monetary Policy and the Pasinetti Index: A Stock Flow Model for Latin American Economies
Varieties of Capitalism: Second-Generation Perspectives
Can correcting for real exchange rate misalignment help countries escape the middle-income-trap? An analysis of a natural resource-based economy: Chile
Chile is classified as a high-income country but suffers from the same weaknesses affecting middle-income countries. The same policies that have encouraged the dependency on natural resources and restricted the expansion of the productive and export base, have prevented the use of exchange rate policy as an instrument of economic and social development. The performance of the economy is greatly determined by the evolution of the terms-of-trade wh…
The Covid-19 crisis and the structural problems of Latin America and the Caribbean: Responding to the emergency with a long-term perspective
The economies of Latin America and the Caribbean have been slipping behind in the global economy, weighed down by structural problems that hinder their capacity to grow and absorb technology. The coronavirus disease (COVID-19) pandemic has not only brought these structural problems into sharper relief, but has also exacerbated them, by reinforcing adverse trends in growth, employment and income distribution. This article analyses these trends and…
Integration, spurious convergence, and financial fragility: A post-Keynesian interpretation of the Spanish crisis
The Spanish crisis is generally portrayed as resulting from excessive spending by households associated to a housing bubble and/or an excessive welfare spending beyond the economic possibilities of the country. We put forward a different hypothesis. We argue that the Spanish crisis resulted, in the main, from a widening deficit position in the non-financial corporate sector and a declining trend in profitability under a regime of financial libera…
Quantitative Easing (QE), Changes in Global Liquidity, and Financial Instability
This article argues that quantitative easing (QE) led to significant changes in the global financial system that are not conducive to greater financial stability. Through a policy of reserve accumulation, QE did not have a direct impact in the creation of global liquidity through bank lending. It rather reinforced the statistical decoupling between base money and the money supply and between deposits and loans. However, QE did have an effect on t…
The New Palgrave Dictionary Of Economics
Raúl Prebisch and economic dynamics: Cyclical growth and centre-periphery interaction
Prebisch believed that understanding the evolution of capitalist economies over time and in different contexts required a general cycle approach, encompassing all the different areas of economic activity, which he labelled “economic dynamics.” This theory, developed between 1945 and 1949, stemmed from a critique of both neoclassical and Keynesian theories, which Prebisch viewed as static representations of capitalism. It was applied first to a cl…
Macroeconomics for Development in Latin America and the Caribbean: Some New Considerations on Countercyclicality
The Macroeconomics for Development blueprint for Latin America and the Caribbean is articulated around two issues: an active strategy of productive development and a countercyclical policy stance. Macroeconomic countercyclicality refers to the management of the level of aggregate demand to dampen the fluctuations and volatility of real and nominal variables around their long-term trends. This paper argues that the cycle and trend are interdepende…
Portrait of the economist as a young man: Raúl Prebisch’s evolving views on the business cycle and money, 1919-1949
This paper analyzes Raúl Prebisch's less familiar contributions to economic theory, related to the business cycle, and heavily informed by the Argentinean experience. His views of the cycle emphasize the common nature of the cycle in the center and the periphery as one unified phenomenon. While his rejection of orthodoxy is less than complete, some elements of what would become a more Keynesian position are developed. In particular, a preoccupati…
Income Convergence, Capability Divergence, and the Middle Income Trap: An Analysis of the Case of Chile
The bigness of smallness: The financial crisis, its contagion mechanisms and its effects in Latin America
This paper has two purposes. First, it seeks to explain the reason why a relatively small shock (in the subprime market in the United States) had a systemic effect on the world economy. It is argued that this responds to the combination of off balance sheet funding and pro-cyclical leverage management. Second, it analyses the transmission mechanisms and the possible effects of the crisis on Latin American economies. Past crises had generalized, d…
The Concept and Evolution of the Developmental State
The developmental state is associated with the leading role played by the government in promoting industrialization in Japan and East Asia in the post-World War II era. Their respective governments pursued a series of policies, including tariff protection, subsidies, and other types of controls aimed at developing selected productive sectors of economic activity. Fundamental to the design of the developmental state for these countries was the cre…
Global Imbalances and Economic Development
Harrod's interwar papers and correspondence: A review essay
This essay reviews Daniele Besomi's recently published three-volume collection of Roy F. Harrod's interwar correspondence and writings
The Concept and Evolution of the Developmental State
The developmental state is associated with the leading role played by the government in promoting industrialization in Japan and East Asia in the post-World War II era. Their respective governments pursued a series of policies, including tariff protection, subsidies, and other types of controls aimed at developing selected productive sectors of economic activity. Fundamental to the design of the developmental state for these countries was the cre…
Portrait of the economist as a young man: Raúl Prebisch’s evolving views on the business cycle and money, 1919-1949
This paper analyzes Raúl Prebisch's less familiar contributions to economic theory, related to the business cycle, and heavily informed by the Argentinean experience. His views of the cycle emphasize the common nature of the cycle in the center and the periphery as one unified phenomenon. While his rejection of orthodoxy is less than complete, some elements of what would become a more Keynesian position are developed. In particular, a preoccupati…
Raúl Prebisch and economic dynamics: Cyclical growth and centre-periphery interaction
Prebisch believed that understanding the evolution of capitalist economies over time and in different contexts required a general cycle approach, encompassing all the different areas of economic activity, which he labelled “economic dynamics.” This theory, developed between 1945 and 1949, stemmed from a critique of both neoclassical and Keynesian theories, which Prebisch viewed as static representations of capitalism. It was applied first to a cl…
Quantitative Easing (QE), Changes in Global Liquidity, and Financial Instability
This article argues that quantitative easing (QE) led to significant changes in the global financial system that are not conducive to greater financial stability. Through a policy of reserve accumulation, QE did not have a direct impact in the creation of global liquidity through bank lending. It rather reinforced the statistical decoupling between base money and the money supply and between deposits and loans. However, QE did have an effect on t…
Harrod's interwar papers and correspondence: A review essay
This essay reviews Daniele Besomi's recently published three-volume collection of Roy F. Harrod's interwar correspondence and writings
Global Imbalances and Economic Development
The Concept and Evolution of the Developmental State
The developmental state is associated with the leading role played by the government in promoting industrialization in Japan and East Asia in the post-World War II era. Their respective governments pursued a series of policies, including tariff protection, subsidies, and other types of controls aimed at developing selected productive sectors of economic activity. Fundamental to the design of the developmental state for these countries was the cre…
The bigness of smallness: The financial crisis, its contagion mechanisms and its effects in Latin America
This paper has two purposes. First, it seeks to explain the reason why a relatively small shock (in the subprime market in the United States) had a systemic effect on the world economy. It is argued that this responds to the combination of off balance sheet funding and pro-cyclical leverage management. Second, it analyses the transmission mechanisms and the possible effects of the crisis on Latin American economies. Past crises had generalized, d…
Portrait of the economist as a young man: Raúl Prebisch’s evolving views on the business cycle and money, 1919-1949
This paper analyzes Raúl Prebisch's less familiar contributions to economic theory, related to the business cycle, and heavily informed by the Argentinean experience. His views of the cycle emphasize the common nature of the cycle in the center and the periphery as one unified phenomenon. While his rejection of orthodoxy is less than complete, some elements of what would become a more Keynesian position are developed. In particular, a preoccupati…
Income Convergence, Capability Divergence, and the Middle Income Trap: An Analysis of the Case of Chile
Macroeconomics for Development in Latin America and the Caribbean: Some New Considerations on Countercyclicality
The Macroeconomics for Development blueprint for Latin America and the Caribbean is articulated around two issues: an active strategy of productive development and a countercyclical policy stance. Macroeconomic countercyclicality refers to the management of the level of aggregate demand to dampen the fluctuations and volatility of real and nominal variables around their long-term trends. This paper argues that the cycle and trend are interdepende…
The New Palgrave Dictionary Of Economics
Raúl Prebisch and economic dynamics: Cyclical growth and centre-periphery interaction
Prebisch believed that understanding the evolution of capitalist economies over time and in different contexts required a general cycle approach, encompassing all the different areas of economic activity, which he labelled “economic dynamics.” This theory, developed between 1945 and 1949, stemmed from a critique of both neoclassical and Keynesian theories, which Prebisch viewed as static representations of capitalism. It was applied first to a cl…
Quantitative Easing (QE), Changes in Global Liquidity, and Financial Instability
This article argues that quantitative easing (QE) led to significant changes in the global financial system that are not conducive to greater financial stability. Through a policy of reserve accumulation, QE did not have a direct impact in the creation of global liquidity through bank lending. It rather reinforced the statistical decoupling between base money and the money supply and between deposits and loans. However, QE did have an effect on t…
Integration, spurious convergence, and financial fragility: A post-Keynesian interpretation of the Spanish crisis
The Spanish crisis is generally portrayed as resulting from excessive spending by households associated to a housing bubble and/or an excessive welfare spending beyond the economic possibilities of the country. We put forward a different hypothesis. We argue that the Spanish crisis resulted, in the main, from a widening deficit position in the non-financial corporate sector and a declining trend in profitability under a regime of financial libera…
The Covid-19 crisis and the structural problems of Latin America and the Caribbean: Responding to the emergency with a long-term perspective
The economies of Latin America and the Caribbean have been slipping behind in the global economy, weighed down by structural problems that hinder their capacity to grow and absorb technology. The coronavirus disease (COVID-19) pandemic has not only brought these structural problems into sharper relief, but has also exacerbated them, by reinforcing adverse trends in growth, employment and income distribution. This article analyses these trends and…
Can correcting for real exchange rate misalignment help countries escape the middle-income-trap? An analysis of a natural resource-based economy: Chile
Chile is classified as a high-income country but suffers from the same weaknesses affecting middle-income countries. The same policies that have encouraged the dependency on natural resources and restricted the expansion of the productive and export base, have prevented the use of exchange rate policy as an instrument of economic and social development. The performance of the economy is greatly determined by the evolution of the terms-of-trade wh…
Varieties of Capitalism: Second-Generation Perspectives
Monetary Policy and the Pasinetti Index: A Stock Flow Model for Latin American Economies
Economics (13 works) · Macroeconomics (11 works) · Economic Theory and Policy (10 works) · Global Financial Crisis and Policies (6 works) · Political science (6 works) · Monetary economics (5 works) · Monetary policy (5 works) · Finance (4 works) · Keynesian economics (4 works) · Latin Americans (4 works)