Do real interest rates converge across Latin american countries?

In this study, we apply the Sequential Panel Selection Method (SPSM), pro- posed by Chortareas and Kapetanios (Journal of Banking and Finance 33:390–404, 2009), to investigate and assess the non-stationary properties of the real interest rate parity (RIRP) for fourteen Latin American countries. Utilizing the SPSM, we can classify the entire panel into a group of stationary series and a group of non-stationary series. We clearly identify how many and which series in the panel are stationary processes and provide robust evidence that clearly indicate RIRP holds true for ten countries. Our findings note that these countries’ real interest rate convergence is a mean reversion toward RIRP equilib- rium values in a non-linear way. Our results have important policy implications for these Latin American countries under study.info:eu-repo/semantics/publishedVersio

Decomposition Driven Consolidation of Process Models

Abstract. Oftentimes business processes exist not as singular entities that can be managed in isolation, but as families of variants that need to be managed together. When it comes to modelling these variants, analysts are faced with the dilemma of whether to model each variant separately or to model multiple or all variants as a single model. The former option leads to a proliferation of models that share common parts, leading to redundancy and possible inconsistency. The latter approach leads to less but more complex models, thus hindering on their comprehensibility. This paper presents a decomposition driven method to capture a family of process variants in a consolidated manner taking into account the above trade-off. We applied our method on a case study in the banking sector. A reduction of 50 % of duplication was achieved in this case study