Whether public lending to firms effectively eases credit constraints has been widely studied for very small businesses. The evidence documented for larger firms refers to lending that is significantly subsidized and targeted to these businesses, so the estimated positive effects may reflect poor...

The focus of this research is to learn about the factors that influence the decision of a manufacturing firm to vertically integrate into the production of its input. The American paper industry has a feature that makes it particularly suitable for this purpose: over the years paper mills of...

This paper analyzes the effects on Colombian manufacturing productivity of tax and foreign trade policy changes during the 1990s. Our results indicate that between 1977 and 1999, aggregate manufacturing productivity largely stagnates and even declines in some of the larger industries. There is...

Este artículo estudia las decisiones de política monetaria en un ambiente en que: 1) tales decisiones están en manos de una junta, en lugar de un banquero central individual; y 2) los banqueros centrales son designados por el gobierno. En el modelo, cada banquero central tiene en cuenta el...