We study the relationship between average inflation and inflation uncertainty in Mexico from 1960-1997. Friedman (1977) and Ball(1992) propose models where higher inflation creates increased uncertainty, whereas Cukierman & Meltzer (1986) and Cukierman (1992) argue that an apportunistic Central...

We examine the effect of different exchange rate regimes on the economic behavior of 16 developing countries during 1997. While current account deficits predict well the subsequent degree of currency depreciation, holding constant the deficit, the exchange rate regime in place at the beginning...

In this paper, we study the link between real exchange rate (RER) depreciation and elections in Latin America. Our contribution is threefold. First, we employ a statistical model that takes into account the pervasive conditional heteroskedasticity found in financial data and includes a wide...

We depart from the trade and wages literature and its emphasis on North-South trade, examining North-North trade and linkages between trade-based integration and relative wages in an Etiher-type division of labor model. Using this model we identify a formal relationship between international...

We investigate the underlying causes of political instability in a panel of 18 Latin American countries from 1971-2000. We test whether regime type, regime durability, factionalism, income inequality, ethnic diversity, ethnic discrimination, regional spillover effects, urban growth and...

I evaluate Latin America's relative economic performance by combining the Solow growth coefficients from 22 rich countries and the actual factor accumulation in the region. I find that actual income growth was consistently below simulated growth for all of the countries in the sample, indicating...

We investigate the determinants of agricultural productivity in a panel of 27 tropical developing countries from 1984 to 2005 and test whether the coefficients of the right-hand side variables are significantly different in sub-Sahara Africa. We find evidence that the point estimates of...

The author studies East Asian economic performance relative to the experience of a sample of rich, industrialized countries. On combining the coefficients from an augmented Solow model of growth for a sample of industrialized countries with the actual levels of factor accumulation in East Asia,...