I measure the welfare gains from eliminating fluctuations in investment in an emerging economy such as Argentina. The estimated welfare effects are an order of magnitude higher than those for the US and arise with moderate degrees of diminishing returns to investment.

This paper discusses the use of aggregate and microeconometric decompositions to compare benefit-incidence results over time. Decompositions are applied to explore changes in targeting in health policies directed to pregnant women and children under 4 in Argentina. The results suggest that...

This paper discusses the use of aggregate and microeconometric decompositions to compare benefit-incidence results over time. Decompositions are applied to explore changes in targeting in health policies directed to pregnant women and children under 4 in Argentina. The results suggest that...

This paper studies an effect of a horizontal merger where a product consolidation by the merged firm may alter the substitutability in the industry. We show that as the number of firms in the industry increases, this type of merger becomes profitable for merging firms, while unprofitable for...

This paper studies the stability of mergers between firms in a Cournot market. Unlike most existing works, we consider a demand structure where the substitutability between firms is asymmetric. We specifically focus on the stability of the grand coalition by analyzing the core allocation. The...

This paper studies an effect of a horizontal merger where a product consolidation by the merged firm may alter the substitutability in the industry. We show that as the number of firms in the industry increases, this type of merger becomes profitable for merging firms, while unprofitable for...