Journal of Economics Finance and International Business
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Aspectos de Política Monetaria en Colombia: un Debate entre las Reglas y la Discrecionalidad
Get PDFCredibility in the monetary authority of each country isdetermined by issues related to the management of its policy,such as the choice between a rule approach and a discretionapproach. This article provides arguments supportingeach approach, as well as some aspects to consider in theemployment of the rules or discretion for the management ofmonetary policy in Colombia. In addition, the inflation ratecontrol is emphasized because of its importance in the futurecredibility of the monetary authority, in order to make withdiscretion the corresponding decisions.La credibilidad en la autoridad monetaria de cada país está determinada por asuntos relacionados con el manejo de su política, como la decisión entre emplear un enfoque de reglas o un enfoque discrecional. Este artículo presenta argumentos a favor de cada postura, así como algunos aspectos a considerar en el uso de las reglas o la discrecionalidad para el manejo adecuado de la política monetaria en Colombia. Además, se recalca el control de la tasa de inflación debido a la importancia de este indicador en la credibilidad futura de la autoridad monetaria, la cual de manera discrecional tomará las decisiones correspondientes
Satisfacción laboral y su relación con el desempeño laboral en una Pyme de servicios de seguridad en el Perú
Get PDFAccording to some studies, job satisfaction positivelyinfluences job performance as well as a company’s overallperformance. However, there are other studies that present anopposite relationship between them. Also, there is very littlebibliography about this relationship in the context of smalland medium-size enterprises (SMEs) in the security industry.The purpose of this study is to verify the relationship betweenjob satisfaction and job performance for the case of a SMEin the security sector located in Lima, Peru. A correlationaldescriptive research was conducted, by making use of twoquestionnaires, one to evaluate employee’s job performanceand the other for job satisfaction. Both questionnaires wereapplied to a representative sample of security agents.The results indicate that the correlation between jobsatisfaction and job performance is statistically significant.They also reveal that significance of task is the only aspectby which job satisfaction is highly related to job performance.On the other hand, economic benefit (incentive) is the aspectby which job satisfaction finds a weak relationship with jobperformance. These findings suggest, firstly, the need toperiodically evaluate employees’ satisfaction by measuringdifferent aspects of job satisfaction, including the significanceof the task; and secondly, the need to intervene in case of jobdissatisfaction to improve motivation of security agents.De acuerdo a las investigaciones de diversos autores, la satisfacción del personal influye positivamente en su desempeño laboral, así como en el desempeño global de la empresa. Sin embargo, numerosos estudios sobre diversos puestos de trabajo presentan conclusiones contrarias respecto a esta relación. Asimismo, la bibliografía es muy escaza acerca de esta relación en el caso de la empresa de seguridad.El presente estudio tiene como finalidad verificar la relación entre la satisfacción laboral y el desempeño del puesto agente de seguridad en una empresa de servicios de vigilancia ubicada en la ciudad de Lima. Se realizó una investigación descriptiva correlacional, haciendo uso de un instrumento de elaboración propia para evaluar el desempeño, y un cuestionario de satisfacción laboral elaborado por la investigadora Palma S. (2005). Ambos cuestionarios se aplicaron en una muestra representativa de empleados del puesto agente de seguridad.Los resultados indican que la correlación entre satisfacción y desempeño laboral es significativa. Asimismo, sugieren que el único aspecto de satisfacción laboral que presenta una alta correlación con el desempeño es el de satisfacción con la significación de la tarea. Por otro lado, el aspecto de satisfacción que obtuvo la relación más débil con el desempeño fue el de satisfacción con el beneficio económico. Los resultados sugieren la necesidad de evaluar periódicamente la satisfacción percibida por los trabajadores, midiendo diferentes aspectos de satisfacción, incluyendo la significación de la tarea; así como intervenir, en caso de insatisfacción laboral, para motivar al trabajador en este aspecto
Desigualdad (Re)considerada Peru 1997-2015
Get PDFIncome inequality in Peru declined in the period 1997-2015 according to Peru´s National Statistics and Information Institute and the World Bank. This result, however, is affected by a measurement error due to the fact that household surveys exclude top income households that self-exclude from participating. Using the Lakner & Milanovic (2013) methodology we correct the measurement bias and generate new series of Gini coefficients for income and spending. We conclude that inequality is not only higher but persistent. Further, the distribution tails have increased their participation in the distribution of income while middle groups have been compressed.De acuerdo al Instituto Nacional de Estadística e Informática y al Banco Mundial, la desigualdad en el Perú descendió en el periodo 1997-2015. Este resultado, sin embargo, acusa un error de medición debido a que las encuestas de hogares excluyen los ingresos de los hogares ricos. Utilizamos el método de Lakner & Milanovic (2013) para corregir el sesgo de medición y construimos nuevas series del coeficiente Gini del ingreso y del gasto en el mismo periodo. Concluimos que la desigualdad no es sólo más elevada sino persistente. Las colas de la distribución han mejorado relativamente su participación en la distribución del ingreso, mientras que los grupos del medio han comprimido su participación
U.S. Debt: The Next Financial Crisis?
Get PDFAs the U.S. economy has mainly recovered from the 2008 Financial Crisis, with unemployment below 5%, inflation below 2%, and the stock market near all-time highs, there is growing concern about the huge amount of U.S. government debt, which today stands at over $20 Trillion dollars and 106% of Debt/GDP. Could this be the next thing to derail the U.S. economy, and in so doing, negatively affecting nearly every other country in the world? This paper reviews the size and scope of the U.S. National Debt in it’s historical context. There are three reasons to be alarmed about this, especially now. First, the annual budget deficit, which had been shrinking in the later years of the Obama administration, is once again on the rise. Second, the Republican tax reduction bill is estimated to add another trillion dollars to the overall level of government debt in the next 10 years, even with higher GDP growth rates factored in. Third, the Trump administration, while slashing other areas of government spending (State Department, Environmental Protection Agency, and more) is once again seeking major increases in military spending. This scenario is strikingly similar to the early 1980’s, where deficits soared as a result. The paper also offers some solutions as to what can be done to bring it down to a more manageable level (or at least reduce it’s rate of growth). Like many things in economics, the “best” solution is to find ways to return to levels of historical GDP growth rates (3% and above)
Are financial investors rational or irrational? Forbidden readings, analysis and economic proposals for Peru
Get PDFGlobalization and Multipliers in the Pacific Alliance Countries: Cases of Peru, Chile and Colombia
Get PDFPrimary objectives of this work are to discuss the relationship between the level of globalization, the tendencies of import coefficients, and the value of income multipliers in emerging countries in general. The analysis is made via three case studies from The Pacific Alliance countries: Colombia, Peru, and Chile. Statistical results confirm our initial hypothesis of an inverse relationship between globalization and the value of income multipliers. The methodology for calculation of income multipliers is based on the input-output tables of each country for the corresponding years of the analysis
Taking a good care of the environment in Peru: Forbidden Readings, analysis and economic proposals for Peru
Get PDFPeru: The External and Internal Adjustment Challenge
Get PDFThis paper sketches some of the main external and internal macroeconomic challenges confronting Peru over the nearand medium-term. It argues that Peru’s main macroeconomic challenges could be summarized in three main headings: First, the Peruvian economy is currently in a period of transition from the biggest resource boom since the mid- 1950s to a “new normal” characterized by weaker foreign demand, falling metal prices and expectations of rising interest rates at the international level. Transition to a “new normal” has its own challenges, which, in the case of a small open economy like Peru, are currently being heightened by the abovementioned global conditions. Second, transition to a new normal is happening under robust initial conditions, which could be summarized by the Peruvian economy’s sound macroeconomic fundamentals, and its underlying flexibility. Such flexibility helped the economy dealing with the upswing of the mining development boom and should help us in the downswing. Third, macroeconomic policy—particularly monetary and exchange rate policy—is helping in this adjustment, although a successful transition may need to be supported by a number of structural policies, that are noted in the paper