Now showing items 21-40 of 368

    • Toolkit for the analysis of debt problems 

      Sturzenegger, Federico (Universidad Torcuato Di Tella. Escuela de Negocios. Centro de Investigaciones en Finanzas (CIF), 2002)
      The idea of this chapter is to provide a number of tools that may allow an independent observer to assess the likelihood of default, to provide the clues for an evaluation of likely restructuring scenarios and to be able ...
    • The Argentina crisis: bad luck, bad management, bad politics, bad advice 

      Powell, Andrew (Universidad Torcuato Di Tella. Escuela de Negocios. Centro de Investigaciones en Finanzas (CIF), 2002)
      In my view the crisis was avoidable and one can even point to key events and decisions at particular moments of time. If some combination of these events had turned out different, it is likely that crisis would have been ...
    • The FTAA and the location of FDI 

      Levy Yeyati, Eduardo; Daude, Christian; Stein, Ernesto (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 ...
    • Reforming capital requirements in emerging countries 

      Powell, Andrew; Balzarotti, Verónica; Castro, Christian (Universidad Torcuato Di Tella. Escuela de Negocios. Centro de Investigaciones en Finanzas (CIF), 2002)
      This paper then attempts to show how a PCR, in this case from Argentina, can help to set capital and provisioning rules. In order to so this, we employ an econometric credit scoring model on the PCR data - an ordered probit ...
    • Macroeconomic coordination and monetary unions in a N-country world: Do all roads lead to Rome? 

      Powell, Andrew; Sturzenegger, Federico (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 ...
    • Inglaterra sin pescado y patatas fritas, o qué más deberíamos haber descubierto en el ensayo de Coase sobre costos sociales 

      Ogus, Anthony (Universidad Torcuato Di Tella. Escuela de Derecho, 2002)
      Aquí sostengo que tal teorema facilita el análisis de algunas cuestiones de responsabilidad jurídica (“omisiones negligentes”, “interferencias en el uso y goce de un bien” -coming to nuisance-, “daño”) para las que las ...
    • Una concepción Kantiana de la causalidad a partir de la libertad 

      Kienzle, Bertram (Universidad Torcuato Di Tella. Escuela de Derecho, 2002)
      su título. Así que supongo que lo primero que querrían que haga es explicar qué se quiere decir con ellos. Lo haré por medio de ejemplos. Es un hecho de todos los días que el fuego causa humo. Enciendan un fósforo y ...
    • Dos interpretaciones del contractualismo de Scanlon 

      Pettit, Philip (Universidad Torcuato Di Tella. Escuela de Derecho, 2002)
      En “What We Owe to Each Other” [Lo que Nos Debemos unos a otros], TM Scanlon presenta los elementos principales de una nueva teoría contractualista sobre lo correcto y lo incorrecto (Scanlon 1998). Las ideas que aporta al ...
    • Aggregating reasons 

      Chapman, Bruce (Universidad Torcuato Di Tella. Escuela de Derecho, 2002)
      Economic theory and legal theory can both claim to provide plausible accounts of rational decision-making. Yet, despite the growth of “law and economics” as a hugely successful area of interdisciplinary study, there is ...
    • Why have poverty and income inequality increased so much? Argentina 1991-2002 

      González-Rozada, Martín; Menéndez, Alicia (Universidad Torcuato Di Tella. Escuela de Negocios. Centro de Investigaciones en Finanzas (CIF), 2002-09)
      This paper analyzes the sources of changes in poverty and income inequality among Argentine households during the 1991-2001 period. We assess the effect of changes in labor market participation, unemployment, education ...
    • The cyclical nature of FDI flows 

      Levy Yeyati, Eduardo; Panizza, Ugo; Stein, Ernesto (Universidad Torcuato Di Tella. Escuela de Negocios. Centro de Investigaciones en Finanzas (CIF), 2002-12-19)
      In this paper, we examine how the business and interest rate cycles in developed countries affects FDI to developing countries. After aggregating flows into three big source areas (the U.S., Europe and Japan), we find FDI ...
    • Inference and estimation in small sample dynamic panel data models 

      Galiani, Sebastián; González-Rozada, Martín (Universidad Torcuato Di Tella. Escuela de Negocios. Centro de Investigaciones en Finanzas (CIF), 2002-12-27)
      We study the finite sample properties of the most important methods of estimation of dynamic panel data models in a special class of small samples: a two-sided small sample (i.e., a sample in which the time dimension is ...
    • Waldron y el juego de la coordinación jurídica 

      Gaus, Gerald F. (Universidad Torcuato Di Tella. Escuela de Derecho, 2003)
      Jeremy Waldron nos dice que “la profunda necesidad, entre los miembros de cierto grupo, de contar con un marco de referencia, una decisión o un curso de acción comunes sobre alguna cuestión, aun ante el desacuerdo sobre ...
    • Living and dying with hard pegs: the rise and fall of Argentina's currency board 

      Levy Yeyati, Eduardo; Schmukler, Sergio; Torre, Augusto de la (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 

      Powell, Andrew; Cohen Sabbán, Verónica; González-Rozada, Martín (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 ...
    • 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 ...
    • Business cycle and macroeconomic policy coordination in MERCOSUR 

      González-Rozada, Martín; Fanelli, José (Universidad Torcuato Di Tella. Escuela de Negocios. Centro de Investigaciones en Finanzas (CIF), 2003)
      The paper analyzes cyclical comovements in the Mercosur area differentiating idiosyncratic from common shocks. In the Mercosur (or any region for that matter) shocks can be country-specific, affecting only one country or ...
    • Libertad y bienes de bienestar: reflexiones sobre liberalismos en conflicto 

      Lomasky, Loren (Universidad Torcuato Di Tella. Escuela de Derecho, 2003)
      Entre los numerosos productos morales que los órdenes políticos pueden producir y proteger, el liberalismo clásico le asigna primacía a la libertad, entendida como ausencia de interferencia. Hacia la segunda mitad del siglo ...
    • 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 ...
    • Regional integration and the location of FDI 

      Levy Yeyati, Eduardo; Daude, Christian; Stein, Ernesto (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 ...