Similar to the modeling used to evaluate ccnporate boncls, where it is a put optioo. 011 corporate assets, we modeled sovereign bonds. Instead of company's assets as underlining assets, we used foreign excbange reserves. ...

In this paper, we focus on the tails of the unconditional distribution of Latin American emerging markets stock returns. We explore their implications for portfolio diversification according to the safety tirst principIe, ...

Guns stolen from law-abiding households provide the principal source of guns for criminals. The lethality of crime instruments increases with the availability of guns, so the gun market is subject to externalities that ...

The paper assesses the impact of intemational relative prices and domestic expenditure variables on Brazil' s foreign trade performance in the first half of the 1990s. It has been argued that the appreciation of the Real ...

This work explores how Argentina overcame the Great Depression and asks whether active macroeconomic interventions made any contribution to the recovery. In particular, we study Argentine macroeconomic policy as it deviated ...

We use the Ramsey model of g,Towth elaborated by Bliss [1995] and Ventlira [1997] to show how international integration results in long-nm persistellce Df GNPs distribution, while allowing, under certain conditions on ...