We analyze the emergence of large-scale education systems by modeling the incentives that the economic elite could have (collectively) to accept taxation destined to finance the education of credit-constrained workers. Contrary to previous work, in our model this incentive does not arise from a...

This paper studies Bertrand price-setting behavior when firms face capacity constraints (Bertrand–Edgeworth game). This game is known to lack equilibria in pure strategies, while the mixed-strategy equilibria are hard to characterize. We explore families of heuristic rules for individual...

We study the dynamics of self-organized systems when disturbed by shocks. For this purpose, we consider extensions of the "Bar Attendance Model" [1] (BAM), which provides a stylized setting for the analysis of the emergence of coordination in the behavior of a large collection of agents. We...

This paper explores instances of coordination failures in intertemporal decisions. The context is one where agents try to interpret the behavior of others as it is revealed by market variables. The paper shows examples where, if agents postulate that market data necessarily result from actions...

This book compares the successes and failures of the development and growth processes of Argentina and Brazil. It provides important insights into the different performances of these economies through a series of comparative essays written by Argentinian and Brazilian economists.

Regional integration among asymmetric countries is a hot and burning policy topic worldwide. Deepening Integration in MERCOSUR analyzes the most important issues of economic integration and policy coordination that countries face as they advance towards deeper integration and are urged to...

This book discusses the future of MERCOSUR, focusing on monetary union and macroeconomic policy co-ordination, and addresses a number of important questions including: is it possible, or even desirable, to achieve monetary integration?; what would the pre-conditions be for establishing such a...