Cuba’s Macroeconomic Policy’s Aggressive Shift towards Expansion Ernesto Hernández-Catá February 2018   Macroeconomic policies I Cuba were generally restrained during most of the period from 1994 to 2012. For the past several years, however, these policies have turned aggressively toward expansion. Over the period 2013 to 2016 the budget deficit ballooned, government expenditure increased sharply, […]

UNIFYING THE CUBAN PESO: TENTATIVE NUMBERS[i]   Luis R. Luis   SUMMARY  Exchange rate and currency unification is a high priority.  Estimates from the national income accounts place the average managed rate at about 3 Cuban pesos per dollar in 2012-2016.  Unification is made difficult by the feeble international reserve position of Cuba with assets […]

On the Recent Decline in Cuba’s Participation Rate Ernesto Hernández-Catá     This article seeks to explain the recent decline in Cuba’s participation rate with particular attention to the role of cyclical factors, demographic conditions, and the government’s labor market policies.   The ups and downs of the participation rate. Cyclical explanations and recent mysteries. […]