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2003, Cato Journal
The Argentine economy suffered a deep crisis during 2001 and 2002. Poverty stretched to one in every three homesteads in the suburbs of Buenos Aires, and the traumatic departure from convertibility, together with financial crisis and default (public debt default), undermined investor confidence, both local and foreign. Causes of the Crisis We believe the crisis owed its existence to four main causes: (1) inappropriate fiscal policy, (2) wage and price rigidities inconsistent with a fixed exchange regime, (3) a considerable, adverse external shock, and (4) political turmoil. Two-Tiered Fiscal Inconsistency On one side, public expenditure growth measured in U.S. dollars outpaced GDP growth, corrected by tradable-goods prices. On the other, the federal and provincial primary fiscal surplus did not rise at an equal pace with the hike in the financial burden linked to growing debt and the gradual phasing out of preferential-rate bonds (Brady bonds and others issued to cancel government l...
Argentina Since the 2001 Crisis: Recovering the Past, Reclaiming the Future
Revisiting the Argentine Crisis a Decade on: Changes and Continuities2014 •
This book chapter is the Introduction to the book Argentina since the 2001 Crisis: Recovering the Past, Reclaiming the Future. It analyses the nature and effects of the 2001 crisis in Argentina, setting the scene for the discussion of the legacies of crisis that follow in successive chapters. First, it seeks to reject false dichotomies of 'old' and 'new'; instead synthesising them in order to incorporate both elements of continuity and elements of change into analysis. We assert that responses to crisis do not only involve the merging of old and new, but that they are also, concurrently, responses to both old and new problems – many of which were evident in the 1990s and before. Second, it recognises that crisis manifests itself in a number of realms – political, economic, social – and that heuristic devices employed to investigate them must subsequently also be drawn from a number of academic disciplines. This second point is in recognition of the fact that models of political economy, by their very nature and definition, come to encompass all aspects of social life and social reproduction. Link to full chapter can be found below
2006 •
In 1991 the Argentine Government embarked on an ambitious exchange rate based stabilization (ERBS) program aimed at removing the enticement of using money creation to finance the pervasive fiscal imbalances that have been a feature of the Argentine economic landscape. Despite the strait-jacket of this program and the early successes achieved, within a decade of its implementation the program collapsed and resulted in the largest debt default in history. This paper analyzes the circumstances leading up to the failure of Argentina’s experiment with this currency board arrangement and the ensuing currency crisis of 2002. In doing so, the paper places this particular episode of exchange rate crisis into the broader context of the three generations of currency crisis models under consideration in the literature. It will be argued that the mixture of unsustainable debt dynamics, an overvalued real exchange rate coupled with labor market rigidities, and the moral hazard presented by the la...
In this essay I will develop an alternative explanation to the causes of the Argentinean crisis of 2001. The predominant approaches, based on mainstream economics, argue that the causes of the crisis are to be found in elements outside what they consider as the economic sphere. I will argue that these approaches are based on an approach that abstract economics from its social foundations and does not consider certain fundamental aspects of the contemporary mode of production. Using their epistemology will therefore lead to a narrow understanding of events such as economic crisis. In this sense, I will need to move beyond mainstream economics’ understanding of social reality and propose my own framework, based on a Marxist approach. Then I will be able to give some important nuances to the debate. I will show that capitalism has a tendency towards overproduction and economic stagnation. It therefore depends on the disciplinary forces of crisis to re-establish the conditions of capital accumulation. In this sense, my main argument will be that the Argentinean crisis of 2001 was a geographically concentrated devaluation of overproduced capital.
Revista de Historia Económica / Journal of Iberian and Latin American Economic History
Crises and Crashes: Argentina 1825-20022013 •
ABSTRACTThe objective of this paper is twofold. First, it identifies and categorizes the currency crises suffered by Argentina from 1825 to 2002. Second, it looks for regularities in the behaviour of key macroeconomic variables in the neighbourhood of crises by means of graphic analysis, non-parametric and econometric techniques. We found that expansions in public expenditures as well as increases in the debt to GDP ratio and falls in the rate of growth of bank deposits contribute to spur the probability of crisis. Unfavourable external conditions, jointly with domestic imbalances, help to explain very deep crises or crashes.
Autoreprésentations et représentations culturelles en Europe : symbolisme et expression de l’idéologie dans les sociétés de l’âge du Fer de l’Europe tempérée
Who Needs Remote Control? Social Diversity in the Early Nucleation of Northern Italy2024 •
In this paper I offer an overview of different trajectories of settlement nucleation and social complexity in the regions south of the Alps during late prehistory. Using cross-cultural studies and theoretical alternatives to hierarchical models, it is possible to reassess the regional developments of urban sites and social groups, highlighting cycles of urbanization and de-urbanization, as well as a surprising variability in economic and socio-political experiments. Cultural anthropology and comparative archaeology can provide conceptual tools – including collective actions, heterarchy, egalitarianism, anarchy – and material examples able to enhance our comprehension of multi-scalar phenomena, avoiding unilinear and reductionist views of the past.
Market leader elementary English book
Market leader elementary course book 3rd edition2012 •
INTERACTIVITY OF DENTISTRY WITH STUDENTS AT ELEMENTARY SCHOOL MUNICIPAL PROFESSORA ADELAIDE STARKE IN BLUMENAU, SANTA CATARINA, BRAZIL (Atena Editora)
INTERACTIVITY OF DENTISTRY WITH STUDENTS AT ELEMENTARY SCHOOL MUNICIPAL PROFESSORA ADELAIDE STARKE IN BLUMENAU, SANTA CATARINA, BRAZIL (Atena Editora)2024 •
Composite Structures
Flexural behaviour of reinforced concrete beams strengthened with prestressed carbon composites2009 •
2019 •
Journal of College Student Development
Asexual Borderlands: Asexual Collegians' Reflections on Inclusion Under the LGBTQ Umbrella2018 •
Coulson-Thomas, Colin (2015), Embedding CSR Mandate into Corporate Strategy, Director Today, Vol. ll Issue 1, January, pp 7-15
Embedding CSR Mandate into Corporate Strategy2016 •
LSE public policy review
Ukraine’s Decentralisation Reforms and the Path to Reconstruction, Recovery and European Integration2022 •
Journal of Human Resource Studies
Effect of Occupational Safety and Health Training on Performance of Cement Manufacturing Firms in Kenya2022 •
Apuntes para una Historia del Movimiento Estudiantil en el Campus Macul de la Universidad de Chile 1973.1980.
APUNTES PARA UNA HISTORIA DEL MOVIMIENTO ESTUDIANTIL EN EL CAMPUS MACUL DE LA UNIVERSIDAD DE CHILE ENTRE 1973-1980Journal of Macroeconomics
Striking a balance: Optimal tax policy with labor market duality2020 •
IFAC Proceedings Volumes
Segregated Storage Problems in Maritime Transportation1997 •