The security problem is one of the major issues in the policy-makers agendas. At the same time is one of main worries of present society. As a result, appears a necessity to develop theoretical and empirical models of crime and punishment. Economists have been involved in this topic. In...

This paper presents a model of market power analysis in a context of symmetric product differentiation. Each variety possesses a homogeneous and a heterogeneous component, that consumers value separately. According to the way in which firms exercise their influence on prices, four behavioral...

We present a detailed description of the drastic changes in many aspects of the distribution of income in Argentina, complementing a recent study by Gasparini and Cruces (2009), who focus mostly on inequality. We use modern descriptive tools to provide a complete map of the changes in many...

Este trabajo estudia la relación entre las reformas comerciales y el fenómeno de informalidad laboral en las industrias manufactureras del Gran Buenos Aires durante el período 1980-2001. La combinación de información sobre tarifas a las importaciones y microdatos de la fuerza laboral...

Secure property rights are considered a key determinant of economic development. The evaluation of the causal effects of property rights, however, is a difficult task as their allocation is typically endogenous. To overcome this identification problem, we exploit a natural experiment in the...

El presente documento analiza el grado de acceso al crédito por parte de las pequeñas y medianas empresas en Argentina. A tal efecto, el estudio revisa críticamente diversos preconceptos de amplia difusión entre los encargados de política e incluso entre especialistas en el tema. En...

Las crisis recientes han demostrado que América Latina sigue siendo altamente vulnerable a los choques externos. A pesar de la recuperación económica que desde fines del año 2009, la vulnerabilidad externa prevalece debido a la alta volatilidad de los mercados mundiales. Las opciones de un...

Using a quarterly dataset of 185 listed firms in six Latin American countries between 1993 and 2009 we find that leverage is positively related to tangibility, firm size and the market to book ratio, and negatively related to profitability. The average cost of debt is negatively related with...