Se ha señalado en numerosos debates recientes que el proceso de crecimiento y estabilización macroeconómica iniciado en Argentina a comienzos de los años noventa, vino acompañado por una insuficiencia del ahorro doméstico para financiar el fuerte crecimiento de las inversiones. La...

Se ha señalado en numerosos debates recientes que el proceso de crecimiento y estabilización macroeconómica iniciado en Argentina a comienzos de los años noventa, vino acompañado por una insuficiencia del ahorro doméstico para financiar el fuerte crecimiento de las inversiones. La...

Which exchange rate arrangement should developing countries adopt? This question has been given new urgency by the 1997-98 Asian crisis, with its offshoots in Eastern Europe and Latin America. Adjustable or crawling pegs were in place in almost every coun

The volatility of exchange rates after the collapse of Bretton Woods has stimulated subsequent research on the subject. On the theoretical side, the result of an overshooting of the exchange rate has been obtained by Dornbusch, both under adaptive and rat

In democracies, governments need to be elected, and this provides a powerful incentive for incumbents to use economic instruments around elections in order to influence the electorate. Political business cycle (PBC) theory predicts that governments will u

This paper studies the relationship between stabilization programs, the exchange rate and public sector revenue in the Latin American context. High inflations and hyperinflations in the region have resulted from major fiscal imbalances, not only in the f