The Universidad Nacional Mayor de San Marcos (UNMSM) hosted an international conference titled “Are Macro-Financial Linkages Stable or Time-Varying? Evidence from Bayesian Vector Autoregressions” as part of the 151st anniversary of its Faculty of Economic Sciences, according to an April 8 announcement.
The event aimed to deepen understanding of how financial and real economic sectors interact over time, a topic relevant for policymakers and researchers. The session was led by Dr. Iván Mendieta-Muñoz, associate professor at the Department of Economics at the University of Utah, who is currently in Lima for an academic stay under a cooperation agreement between his university and UNMSM.
During his presentation, Mendieta-Muñoz discussed ongoing research with Chilean scholar José Bardales Ruiz. He said, “The project seeks to address a highly relevant issue in contemporary macroeconomics by examining the stability and evolution of macro-financial linkages using advanced econometric models, specifically Bayesian vector autoregressions (BVAR).” Mendieta-Muñoz also noted that preliminary findings suggest these connections tend to change over time, especially when financial shocks become more volatile during periods of stress.
Regarding Peru’s situation, he said that although Peru has a smaller economy compared to others, external financial stress can still affect it internally. He emphasized the importance for authorities to assess whether monetary policy should take a more aggressive stance in response to such shocks. He added that Peru’s economic stability is notable and reflects prudent monetary management over the years.
The academic activity was supported by the Center for Latin American Studies at the University of Utah and Hotel Meliá. It provided an opportunity for students and faculty to explore new approaches in economic research while strengthening international cooperation ties.
UNMSM operates as an autonomous public entity recognized by Peru’s constitution according to its official website. The university offers 81 undergraduate programs along with postgraduate options, research opportunities, and community outreach according to its official website. UNMSM leads public universities in rankings from QS, Scimago, and Webometrics according to its official website.
UNMSM promotes cultural and social well-being through initiatives supporting responsibility, equity, inclusion, and sustainable development according to its official website. The institution utilizes multiple campuses including central facilities and provincial extensions according to its official website.
As stated on its site,the university is dedicatedto advancing education through diverse programs while promoting research engagement. It maintains top rankings among public universities globally.
