borrowing and renegotiation experience of five Latin borrowers (Argentina, Bolivia, Chile, Colombia, and Peru). Another goal is …

productivity; high natural and policy barriers to trade. Focusing on the latter explanations, policy makers have long advocated a …

We investigate how historical patterns of primary production influenced development across local economies in Argentina …

-open-economy real-business-cycle model driven by nonstationary productivity shocks. We find that the RBC model does a poor job at … business cycles in emerging markets and, importantly, assigns a negligible role to nonstationary productivity shocks …

does not decline as much as output, resulting in large falls in measured productivity -- and from a theoretical perspective … productivity during a financial crises as the result of changes in the underlying technology of the economy, the efficiency with … changes in productivity, government spending, the terms of trade, and a country's international investment position. We apply …

channels through which a collapse in imports affects productivity. Import demand is non-homothetic and therefore the … implications for productivity depend on the details of individual firm adjustments and cannot be summarized by the change in the … cost shock that produces a significant productivity decline …