Can limited government be a driving force of economic development? This idea goes back to Montesquieu, and is closely related to recent research in institutional economics. Measuring limited government with the Henisz political constraints index, and economic development with income per capita,...

This paper provides evidence on what affects the marginal cost and availability of bank credit for firms in Argentina. We study in particular how banks use different pieces of private and public information to screen firms and overcome informational asymmetries in the credit market. While some...

(Disponible en idioma inglés únicamente) En este trabajo se presenta un modelo de ciclo político presupuestario racional para una economía abierta en el que las devaluaciones se demoran en el período preelectoral, a fin de aumentar las probabilidades electorales del partido oficialista. Los...

This paper presents a rational political budget cycle model for an open economy, in which devaluations are delayed in the pre-election period so as to increase the electoral chances of the party in office. By concentrating on closed economies, previous political cycle models had overlooked the...

La política fiscal es el resultado de un proceso de decisión colectivo. Este proceso está más institucionalizado en las democracias constitucionales donde es clave la competencia electoral entre partidos para definir qué políticas se van a llevar a cabo. Si bien el votante mediano es...

This paper develops a semiotic-inferential model of verbal communication for incomplete information games: a language is seen as a set of conventional signs that point to types, and the credibility of a message depends on the strategic context. Formally, there is an encoding-decoding step where...

We incorporate semiotics into economic theory, modeling communication with an encoding-decoding step where the sender transmits a message that the receiver can understand if and only if a common natural language is used. We add an inferential step where the receiver may either believe the...