Centros y comunidades: Recent submissions
Now showing items 99-105 of 115
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Macroeconomic coordination and monetary unions in a N-country world: Do all roads lead to Rome?
(Universidad Torcuato Di Tella. Escuela de Negocios. Centro de Investigaciones en Finanzas (CIF), 2002)In Europe, twelve countries have joined a currency union but four have stayed out. The EU enlargement process implies a large set of potential EMU entrants. In Latin America, two countries have recently dollarized and ... -
The FTAA and the location of FDI
(Universidad Torcuato Di Tella. Escuela de Negocios. Centro de Investigaciones en Finanzas (CIF), 2002)The role of regional integration agreements as a determinant of the location of FDI has become an increasingly relevant issue for emerging economies. While the concerns regarding the impact of RIAs on FDI for countries in ... -
Living and dying with hard pegs: the rise and fall of Argentina's currency board
(Universidad Torcuato Di Tella. Escuela de Negocios. Centro de Investigaciones en Finanzas (CIF), 2003)The rise and fall of Argentina’s currency board illustrates the extent to which the advantages of hard pegs have been overstated. The currency board did provide nominal stability and boosted financial intermediation, at ... -
A new test for the success of inflation targeting
(Universidad Torcuato Di Tella. Escuela de Negocios. Centro de Investigaciones en Finanzas (CIF), 2003)We propose a new test, derived from a set of variance decompositions of a structural VAR, for the success of inflation targeting. In contrast to standard sacrifice ratios this test considers changes in the structure of ... -
Regional integration and the location of FDI
(Universidad Torcuato Di Tella. Escuela de Negocios. Centro de Investigaciones en Finanzas (CIF), 2003)How will the creation of the FTAA affect FDI from the rest of the world to the region? What are the implications of FTAA for a country such as Mexico whose preferential access to the US may be diluted? Would the effect be ... -
Aftermaths of current account crisis: export growth or import contraction?
(Universidad Torcuato Di Tella. Escuela de Negocios. Centro de Investigaciones en Finanzas (CIF), 2003)This paper defines current account crises as current account adjustments that occur in the aftermath of a sizable reduction in capital flows. We study the characteristics of such current account adjustments, particularly ... -
The price of incorvertible deposits: the stock market boom during the Argentine crisis
(Universidad Torcuato Di Tella. Escuela de Negocios. Centro de Investigaciones en Finanzas (CIF), 2003)The Argentine crisis witnessed, among other things, a deposit run, the suspension of deposit convertibility, and a “boom” in the stock market. We argue that this boom reflects the cost that depositors were willing to incur ...