Academic literature on foreign exchange market intervention in emerging market countries has grown in recent years. Until now, existing studies have ignored the possible feature of time varying motives and impact effects for/of interventions as well as the relationship to underlying economic and...

A good liability management strategy is one that helps minimize the cost of borrowing over the medium and long term. The objective is not to save the last basis point in each transaction, but rather to bring down the overall borrowing cost. This paper uses Argentina`s experience to illustrate...

The transition to a market driven development strategy in Latin America for more than a decade has redefined business strategies and reshaped the state`s traditional role as guarantor of employment, stability, and protection. These changes, plus the move to create more flexible labor markets in...

Las causas de la explosión de desempleo y de la escasa creación de empleos ocurridas en la Argentina hasta 1995 y sus perspectivas futuras son los dos hilos conductores de este documento. Aquí se presenta una interpretación que se profundiza para el caso de la Argentina.

En este trabajo se analiza el caso de la profundización del crédito hipotecario en Argentina durante los años 90 y se lo compara con el fracaso de los años 80. Se muestra que la estabilidad macroeconómica condiciona el desarrollo del mercado y que con las instituciones legales y de mercado...

We offer an alternative explanation for t he fall of Argentina's Convertibility Program based on the country's vulnerability to Sudden Stops in capital flows. Sudden Stops are typically accompanied by a substantial increase in the real exchange rate that wreaks havoc in countries that are...

The author identifies sources of volatility in Argentina that include weak international financial links, a recurrent credit crunch and financial underdevelopment problem, a fragile fiscal situation, and a pervasive profit and collateral squeeze mechanism brought about by a rigid labor market...