2025 CEMLA Joint Research Program

The CEMLA Joint Research Program represents a unique opportunity for CEMLA Member central bank researchers to disseminate, share and improve their research proposals under the supervision of two expert advisors in the chosen topic for its annual edition (the 2025 edition will be the fifteenth). Pablo Guerrón (Boston College) and Carlos Capistrán (Bank of America) participated in the 2023 edition, and Daniel Chiquiar (Instituto Tecnológico Autónomo de México, ITAM) and Javier García-Cicco (Universidad de San Andrés) will participate in the 2024 edition.

The Program consists of two individual academic feedback meetings with each of the advisors, and between these, the Research Workshop is held, where the authors of the selected projects, CEMLA researchers and the academic advisors discuss the progress of the research work. The Program has allowed the research projects to end up in a superior quality research work of the researchers participating in the Membership. The Program culminates by inviting participating authors to submit their papers to the LAJCB for possible publication.

The Program's thematic focus over the past five years has been diverse, reflecting not only the interests of the membership, but also being in line with the conjuncture and recent developments in the field of economics worldwide. Among these recent topics are fiscal policy and its sustainability; the interdependence between fiscal and monetary policies; macroeconomic responses to the COVID-19 pandemic; the analysis of labor markets; inflation, expectations and forecasts; and finally, the macroeconomics of inflation in the post-COVID-19 era, regarding the most recent inflationary episode that posed a major challenge for central banks.

These innovations in the Program have allowed the guidance and feedback of the research projects of the Membership, which has been reflected not only in a quality final work, but also in new ideas for research agendas and future collaborations among the participating researchers, which strengthens the research network. Researchers from the European Central Bank, Central Bank of Argentina, Central Bank of Chile, Central Bank of Costa Rica, Central Bank of Honduras, Central Bank of Honduras, Bank of Mexico, Bangko Sentral ng Pilipinas, Central Bank of Uruguay, and the Federal Reserve Board participated in the last two editions.