This paper describes the recent reforms of pension policies adopted by Argentina and Chile. The structural reforms in the 1980s and 90s were targeted on improving the long term fiscal sustainability of the system and their institutional design, while transferring part of the economic and social...

This article describes the most recent pension reforms in Argentina and Chile. The previous reforms, implemented in the 1980s and 1990s, aimed to improve long-term fiscal sustainability and institutional design of the systems, shifting part of the social and economic risks away from the State...

The literature on the evolution of impatience, focusing on one-person decision problems, finds that evolutionary forces favor the more patient individuals. This paper shows that in the context of a game, this is not necessarily the case. In particular, it offers a two-population example where...

This paper contains case studies documenting the process of export emergence in four sectors producing differentiated goods in Argentina: wines, television programs, motorboats, and wooden furniture. Each case describes the development of Argentine exports, provides a basic history of the sector...

In many auction settings, there is favoritism: the seller's welfare depends positively on the utility of a subset of potential bidders. However, laws or regulations may not allow the seller to discriminate among bidders. We find the optimal nondiscriminatory auction in a private value,...

In the standard moral hazard model, withholding of effort by the agent is not observable to the principal. We argue that this assumption has to be changed in applications that study corruption. The overwhelming majority of cases where corrupt politicians have been punished involve the detection...