Uruguay is an economy that is vulnerable to precipitation patterns, as evidenced during the country's historic 2022/23 drought. Yet, and despite its rich macroeconomic and climate data environment, the country does not have a consistent macroeconomic model to address the aggregate impact of...

We revisit a central question for international macroeconomics: the response of export prices and quantities to movements in the exchange rate (ER). We use granular export data for Chile and study how the effects of ER movements vary over time with the currency of invoicing and the destination...

Using a variance decomposition of shocks to GDP, we quantify the role of international factor income, international transfers, and saving in achieving risk sharing during the recent European crisis. We focus on the sub-periods 1990--2007, 2008--2009, and 2010 and consider separately the European...