The paper analyzes exchange rate regimes implemented by the major Latin American countries since the Second World War, with special attention on the period of the second globalization process beginning in the 1970s. The analysis follows a historical narrative aiming to provide an understanding...

In this paper we evaluate whether the surge of capital inflows to Latin American countries after the 2007-08 global financial crisis poses a threat for these economies. Recent IMF's documents have warned that capital inflows could lead to boom-and-bust cycles ending up in external and financial...

This book, written by an international team of economists, develops concrete, country specific alternatives to inflation targeting, the dominant policy framework of central bank policy that focuses on keeping inflation in the low single digits to the virtual exclusion of other key goals such as...

The article focuses on Argentina's macroeconomic performance following the 2001 crisis. It also discuses the debates about strong recovery the economy followed in the period.

In recent years several authors have argued that developing countries should aim to target a stable and competitive real exchange rate (SCRER) to foster economic growth. A growing body of empirical research gives support to this claim. Although more theoretical work is needed, some ideas from...

Recent research has documented a positive relationship between real exchange rate (RER) levels and economic growth. The literature has interpreted this correlation as causality running from RER levels to growth rates; i.e., higher, undervalued, more competitive RERs tend to favor growth. Little...