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I extend the traditional Diamond Dybvig framework with aggregate liquidity shocks to small open economies. Currency board may imply perfect risk sharing (with perfect credit markets), contrary to Chang and Velasco's find...

We examine the growth implications of bank runs. To do so, we construct an endogenous growth model in which bank runs occur with positive probability in equilibrium. In this setting, a bank run has a permanent effect on ...

Over the last decade the Argentine banking industry has been subject to important regulatory changes, increased internationalization and restructuring. The way in which this process has affected the degree of competition...

The 1990s emerging-markets crises were characterized by sudden reversals in inflows of foreign capital followed by unusually large declines in current account deficits, private expenditures, production, and prices of non...

This paper focuses on capital flow volatility in Emerging Market Economies, EMs. Capital inflows rose to unprecedented heights in the first part of the 1990s, and collapsed very rapidly in the second. Volatility could pa...

"El presente trabajo de tesis estudia en profundidad la temática de inversiones para la clase media - alta argentina acotada a la provincia de Buenos Aires. Se parte de un análisis contextual y psicológico del inverso...

Con base en la teoría de contratos incompletos, y en el marco de una economía bimonetaria, se modela la política de prestamista en última instancia (PUI) seguida por un banco central, un seguro de depósitos, y un ba...