The authors examine if observed asset prices in Latin America depart significantly from fundamentals-determined levels. These departures, or bubbles, are found to be equally determined by both country-specific and common external variables, contrary to previous studies that found that local...

Data provide only mixed support for the idea that trade liberalization has an impact on own-wage labor demand elasticities. If globalization is making the lives of workers more insecure, it is probably working through some other mechanism