El objetivo de este trabajo es describir mecanismos incorporados en los contratos de construcción de obras que sirven para disminuir los costos de transacción. Se analizan las soluciones a los problemas contractuales propios de esta actividad, en particular a aquellos originados en la...

This paper utilizes the technique developed by Kenneth Judd to quantify the short-run effects of temporal income falls on the current account. It is found that (a) for both a fixed time discount rate and an endogenous discount rate, a future, temporal fall in income improves the initial current...

We analyze the relationship between fiscal deficit, macroeconomic uncertainty and growth for the period 1915-2006, and conclude that the deficit, possibly through the volatility in relative prices it generates, is a significant restriction on per-capita income growth in Argentina.

Los derivados crediticios constituyen una amplia gama de instrumentos financieros cuyo valor se genera por la ocurrencia de eventos crediticios. Son usualmente negociados en forma bilateral a través del mercado OTC aunque esta tendencia puede modificarse a futuro. Su volumen y complejidad...

Although there are distinct conjectures about the relationship between finance and income inequality, little empirical research compares their explanatory power. We examine the relationship between finance and income inequality for 83 countries between 1960 and 1995. Because financial...

This study extends the traditional growth model and recent endogenous growth model to consider how a social and cultural element-the spirit of capitalism in the Weberian sense of accumulation for the sake of accumulation-impacts on savings, asset accumulation, stock market prices, and economic...

Objetivist models are based on the deterministic hypothesis that postulates the existence of probability, which is cognoscible only in an asymptotic manner. On the other hand, subjectivist models consider the aleatoristic hypothesis according to which there is no truth about probability....

Este trabajo fue escrito por alguien que nunca pisó la universidad de Chicago, y estudió en Harvard. Quienes dedican sus energías a pegarle a los economistas encuentran facilitada su tarea en el caso de la universidad de Chicago. No solamente porque fue fundada por un Rockefeller, y contó...

This paper uses a least-square regression method that relates per-capita income to four phonetic characteristics (r-dropping, and the so-called "father-bother", "cot-caught" and "pin-pen" mergers), to study the socio-economic significance of those characteristics in North American English. As a...