Documentos de trabajo: Recent submissions

Now showing items 22-28 of 29

    • The price of incorvertible deposits: the stock market boom during the Argentine crisis 

      Levy Yeyati, Eduardo; Horen, Neeltje van; Schmukler, Sergio (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 ...

    • Liquidity protection versus Moral Hazard: the role of the IMF 

      Powell, Andrew; Arozamena, Leandro (Universidad Torcuato Di Tella. Escuela de Negocios. Centro de Investigaciones en Finanzas (CIF), 2003)
      This paper develops a simple game between the IMF a county and a set of atomistic private investors. The model is motivated by the case of Argentina. Under reasonable assumptions, the one shot game has no Nash equilibrium ...

    • Un año de medición del índice de Demanda Laboral: situación actual y perspectivas 

      Lamdany, Victoria; Monteverde, Luciana (Universidad Torcuato Di Tella. Escuela de Negocios. Centro de Investigaciones en Finanzas (CIF), 2003)
      El índice de demanda laboral es elaborado por la Universidad Torcuato Di Tella desde agosto de 2002. La motivación para la elaboración del índice fue la falta de un indicador mensual que reflejara la situación del ...

    • Default's in the 1990's: what have we learned? 

      Sturzenegger, Federico; Chuham, Punan (Universidad Torcuato Di Tella. Escuela de Negocios. Centro de Investigaciones en Finanzas (CIF), 2003)
      The principal focus of this chapter is on sovereign defaults on external debt in the 1990s and the lessons that have been learned. The rest of the chapter is organized as follows. Section II explains the meaning of debt ...

    • Concentration and foreign penetration in Latin American banking sectors: impact on competition and risk 

      Levy Yeyati, Eduardo (Universidad Torcuato Di Tella. Escuela de Negocios. Centro de Investigaciones en Finanzas (CIF), 2003)
      In recent years, Latin American banking sectors have experienced an accelerated process of concentration and foreign penetration that has prompted diverse views regarding its implications for the competitive behavior of ...

    • Por qué crecen menos los regímenes de tipo de cambio fijo? El efecto de los Sudden Stops 

      Stuzenegger, Federico (Universidad Torcuato Di Tella. Escuela de Negocios. Centro de Investigaciones en Finanzas (CIF), 2003)

    • Finantial dollarization and debt deflation under a currency board 

      Levy Yeyati, Eduardo; Galiani, Sebastián; Schargrodsky, Ernesto Santiago (Universidad Torcuato Di Tella. Escuela de Negocios. Centro de Investigaciones en Finanzas (CIF), 2003)
      In the late currency board years, Argentina faced a real exchange rate adjustment through price deflation amidst growing devaluation expectations. Using a firm-level panel database to analyze the incidence of these factors ...