El Ecuador nació en 1830, como Estado “independiente”, sin las libertades propias del Estado de Derecho Constitucional, que consagra en primer lugar, los derechos del hombre y del ciudadano, sin distingo de clases, raza, poder económico o religión, que emergieron del proceso social y...

This paper is concerned with analyzing the strategy of a debtor country repurchasing its debt at market prices. The main result, for the case when unpaid interest is rolled over, is that a strategy of announced debt repurchases at market prices, under competitive conditions and rational...

Several critical assumptions about the entrepreneurialbehavior and strategies of Native American populations are challenged. Theseassumptions include the following: native populations are at odds withEuro-American modes of economic development; native populations are morecollective in their...

This paper focuses on several topics related to macroeconomic policies in LDC's. The selection is biased towards those cases I have dealt with during my last 20 years of professional experience, home based in Argentina. Inflation, dollarization, quasi-fiscal deficits, capital controls and...

In this paper we propose a modification of the traditional Mundell-Fleming model. The extended model introduces the implications of including the fiscal deficit and international reserves as determinants of the level of country risk. This slight modification of the traditional paradigm leads to...

This paper focuses on several topics related to macroeconomic policies in LDC's. The selection is biased towards those cases I have dealt with during my last 20 years of professional experience, home based in Argentina. Inflation, dollarization, quasi-fiscal deficits, capital controls and...

Argentina has had a quarter century without growth at a time of rapid economic growth in the rest of the world. This paper looks at the role that public sector behavior, particularly government spending, taxation and deficit financing, may have had on the economic stagnation in Argentina....