, Chile and Colombia are more flexible than Mexico and Venezuela. The difference in flexibility among these economies is …, especially when accumulated shocks are substantial. We also study the path of flexibility in Chile and show that it declined in …

, Chile and Colombia are more flexible than Mexico and Venezuela. The difference in flexibility among these economies is …, especially when accumulated shocks are substantial. We also study the path of flexibility in Chile and show that it declined in …

. We also model the role of flexibility and opportunistic behavior in highway concession contracts, and show that, by …

. We also model the role of flexibility and opportunistic behavior in highway concession contracts, and show that, by …