In government procurement auctions of construction contracts, entrants are typically less informed and bid more aggressively than incumbent firms. This bidding behavior makes them more susceptible to losses a¤ecting their prospect of survival. In April of 2000, the Oklahoma Department of...

Globalization, technological changes and the information revolution are phenomena that affect the ways in which different levels of government allocate their public resources and expenditures. This paper examines one aspect of the problem: the decentralization of the subnational public sector...

This paper studies the process that led to the Argentine crisis. The crisis is understood as a major disappointment of previous expectations, indicated by widespread insolvencies and abrupt declines in consumption. The analysis concentrates on the sequence of public and private decisions, and...

We use recent unconditional quantile regression methods (UQR) to study the distributive eects of education in Argentina. Standard methods usually focus on mean effects, or explore distributive effects by either making stringent modeling assumptions, and/or through counterfactual decompositions...