In previous work ("Interpreting the crisis"), analyzed the economic and financial crisis of 2008-2009 and its similarities to other crises in the twentieth century in the U.S. and the UK. In this paper we analyze and interpret the situation in Argentina and other Latin American countries. For...

International trade is frequently thought of as a production technology in which the inputs are exports and the outputs are imports. Exports are transformed into imports at the rate of the price of exports relative to the price of imports: the reciprocal of the terms of trade. Cast this way, a...

"International trade is frequently thought of as a production technology in which the inputs are exports and the outputs are imports. Exports are transformed into imports at the rate of the price of exports relative to the price of imports: the reciprocal of the terms of trade. Cast this way, a...