Trabajo de Investigación:  The Effects of Oil Price Increases on Long-Term Growth Rates in Latin America. 

Revista: Revista de investigacion en modelos Financieros. 

Resumen: This article analyzes the dynamics of economic growth in Latin American countries in response to oil price shocks under different fiscal rules, using the calibration of a theoretical neoclassical growth model. Our findings indicate that an increase in oil prices positively impacts the growth rates of Gross Domestic Income (GDI) and Gross Domestic Product (GDP) regardless of the fiscal rule applied. Fiscal rules incorporating Hartwick's rule appear to be the most effective in smoothing the impacts of these shocks due to their emphasis on investment as a buffering mechanism for the economy's productive capacity, whereas a structural surplus fiscal rule yields the greatest positive impacts on long-term economic growth. We also observe that the magnitude of the impact on growth rates significantly depends on the structural characteristics of each country. Finally, our results suggest a convergence in growth rates among Latin American countries.

Trabajo de Investigación:  The Effects of Oil Price Increases on Long-Term Growth Rates in Latin America. 

Revista: Revista de investigacion en modelos Financieros. 

Resumen: This article analyzes the dynamics of economic growth in Latin American countries in response to oil price shocks under different fiscal rules, using the calibration of a theoretical neoclassical growth model. Our findings indicate that an increase in oil prices positively impacts the growth rates of Gross Domestic Income (GDI) and Gross Domestic Product (GDP) regardless of the fiscal rule applied. Fiscal rules incorporating Hartwick's rule appear to be the most effective in smoothing the impacts of these shocks due to their emphasis on investment as a buffering mechanism for the economy's productive capacity, whereas a structural surplus fiscal rule yields the greatest positive impacts on long-term economic growth. We also observe that the magnitude of the impact on growth rates significantly depends on the structural characteristics of each country. Finally, our results suggest a convergence in growth rates among Latin American countries.