The essay provides support to the hypothesis that financing of provincial public spending through national transferences leads to overspending. We rest on persuasive economic and politicoinstitutional arguments. Fiscal illusion and the Leviathan model help to explain the overspending. And...

In this paper we do a couple of things: discussing a way to measure the welfare cost of country risk, and measuring it for Argentina in the period 1875-2006. There are two conclusions: a) the welfare cost of Argentine risk has been huge: for example, in the period 1976-2006 it was around 20% of...

The purpose of the essay is to investigate the proposition that a free-trade treaty with a superpower is more effective in promoting exports, investment and per capita growth than a unilateral opening to free trade. To that end we study five success stories: Chile (unilateral opening), Mexico...

The purpose of the essay is twofold: a) explore the ability of S. Huntington's model of political development for societies in process of modernization to explain the Argentine political history in 1880-1955; b) prove the hypothesis that mass pretorianism is inherently unstable. We conclude the...

Se ha escrito mucho sobre dolarización. Pero escasa atención, si alguna, se ha prestado a la sostenibilidad de la economía dolarizada. Desde el punto de vista argentino, la sostenibilidad del régimen es esencial. Por muchas razones, la dolarización es una opción eficiente y realista para...