This paper develops a theoretical model to examine the conditions under which clustered firms in a less developed country may cooperate in an export consortium to market their output collectively in a developed country. The consortium eliminates the role of an intermediary firm in the developed...

The macroeconomic experiences of five South American nations —Argentina, Brazil, Chile, Colombia and Peru— are examined since the 1990s. Common features in reforms and macroeconomic policies as well as common cyclical breaking points are stressed, which overcome some relevant differences...

This paper presents a procedure for estimating potential output and the total factor productivity (TFP), to be applied to Peruvian economy. On the basis of potential output series the economic cycle is then calculated to demonstrate that the output gap includes the TFP gap and the unemployment...

The Chilean private pension system is of Defined Contribution, and hence the future pension of its affiliates is uncertain. In this paper we study two factors that influence the level of pensions that an affiliate can expect to receive at retirement: temporal unemployment (and consequent lack of...

The document evaluates the importance of the credit market condition on the investment of firms that trade in the Bolsa Mexicana de Valores. The analysis shows that the degree of liquidity constraints that such firms face has increased since 1995. In addition, it is found that the degree of...