This paper explores the qualitative and quantitative implications of taxation for growth and savings in three Latin American countries: Brazil, Chile and Mexico, studying a small open economy in the context of an endogenous growth model where the domestic interest rate depends on the level of...

This paper explores the qualitative and quantitative implications of optimal taxation in a developing economy when economic growth is endogenously determined. We differentiate this class of economies from a developed economy in two aspects: informal sector is quantitatively significant and...

This paper shows that a large fraction of the variability of emerging market bond spreads is explained by the evolution of global factors such as risk appetite (as reflected in the spread of high yield corporate bonds in developed markets), global liquidity (measured by the international...

The objective of this paper is to estimate the elasticity of substitution in the demand for non-tradable goods relative to tradable goods in Argentina. This parameter plays a crucial role in the analysis of the macroeconomic equilibrium of a small open economy (Mendoza, Galindo and Izquierdo,...

This paper examines the effects of the expansion of the water network in urban shantytowns in Argentina. We find large reductions in the presence, frequency, and severity of diarrhea episodes among children in the households reached by network expansions relative to the control group. Moreover,...

Este trabajo examina los efectos de la expansión del agua en los barriadas urbanas de Argentina. Se encuentran grandes reducciones en la presencia, frecuencia y severidad de episodios de diarrea entre los niños de las viviendas que han sido alcanzadas por la expansión de la red. Aún más,...

(Disponible en idioma inglés únicamente) En este trabajo se muestra que buena parte del grado de variación de los diferenciales de intereses de los bonos de mercados emergentes obedece al desenvolvimiento de factores mundiales tales como la disposición a aceptar riesgos (según se aprecia en...