In this paper we analyze empirically the relationship between different financial reforms and financial instability. We also analyze the relationship between financial liberalization and financial instability, where financial liberalization is measure as an aggregate of different financial...

This paper provides an explanation of how the implementation of particular types of monetary policy and financial regulation affects economic development through its effects on macroeconomic stability. Firstly, we focus on the problems associated to the definition of reaction functions for the...

El presente documento analiza las encuestas de hogares y las metodologías de las estimaciones oficiales de pobreza de la región; en particular, en primer lugar busca analizar la forma en que se miden los ingresos de las personas y los hogares en las encuestas de hogares de América Latina y el...

In recent years, the term “fear of floating” has been used to describe exchange rate regimes that, while officially flexible, in practice intervene heavily to avoid sudden or large depreciations. However, the data reveals that in most cases (and increasingly so in the 2000s) intervention has...

This article takes advantage of a new source of information, the 2006 Gallup World Poll, to estimate and characterize income poverty and inequality in Latin Americaand the Caribbean (LAC) at the country level, and to compare LAC with other regionsin the world. The Gallup survey has the advantage...

This study investigates the impact of recent crises in Argentina (including the severe downturn of 2001–02) on health and education outcomes. The identification strategy relies on both the inter-temporal and the cross-provincial co-variation between changes in regional GDP and outcomes by...

This study investigates the impact of recent crises in Argentina (including the severe downturn of 2001-2002) on health and education outcomes. The identification strategy relies on both the inter-temporal and the cross-provincial co-variation between changes in regional GDP and outcomes by...

This paper extends the Talvi and Végh (2005) model on the behavior of fiscal policy, introducing agent-based issues. Like in Talvi and Végh (2005), the theoretical framework is à la Barro (1979), but rational expectations are costly. The agents can choose between two strategies in forming...