3 papers
econ.GN2026
Algorithmic Intermediation and the International Transmission of U.S. Monetary Policy
Fernando Toledo, Luis Dimotta Bré, Gabriel Montes-Rojas
This paper examines how algorithmic and AI-driven fund management shapes the international transmission of U.S. monetary policy to emerging markets. It argues that the key source o…
econ.GN2026
Cheaper AI, More Informality? A Dual Labor Market Model for Developing Economies
Gabriel Montes-Rojas, Fernando Toledo, Juan Manuel RodrÃguez Repeti
This paper studies what happens when AI gets cheaper, with emphasis on the labor market outcomes, whether it creates formal jobs or whether it pushes workers into informality. We a…
econ.GN2025
Implicit quantile preferences of the Fed and the Taylor rule
Gabriel Montes-Rojas, Fernando Toledo, Nicolás Bertholet +1
We study optimal monetary policy when a central bank maximizes a quantile utility objective rather than expected utility. In our framework, the central bank's risk attitude is inde…