367 research outputs found
Transición al sistema acusatorio
No full textFil: Maguire Vernengo, Nicolás. Universidad de San Andrés. Departamento de Derecho; Argentina
Despite assertions to the contrary, the New Deal’s fiscal policies were key to ending the Great Depression
No full textIn the years following the financial crisis of 2008, many policymakers have turned to the recovery that led the West out of the Great Depression in the 1930s for inspiration of how to address current problems. While many have re-interpreted the policy actions of that period to emphasize the role of monetary over fiscal policy in the recovery, Matías Vernengo urges caution. He argues that while much analysis asserts that expansionary monetary policy led to increased private consumption and investment, low rates from the Fed also made increased public spending more sustainable, thus leading to positive effects on GDP and employment
El Banco Central como Caja de Conversión
No full textEl presente capítulo discute el período de la llamada “Convertibilidad” –establecida en 1991 y que después de una larga crisis encontró su desenlace a principios de 2002– y, en particular, el papel del Banco Central de la República Argentina (BCRA) durante esta etapa.Fil: Sember, Florencia Romina. Consejo Nacional de Investigaciones Científicas y Técnicas. Oficina de Coordinación Administrativa Saavedra 15. Instituto Interdisciplinario de Economía Política de Buenos Aires. Universidad de Buenos Aires. Facultad de Ciencias Económicas. Instituto Interdisciplinario de Economía Política de Buenos Aires; ArgentinaFil: Vernengo, Matías. No especifica
The other J. M.: John Maurice Clark and the Keynesian revolution
No full textThis paper suggests that Clark's views regarding the Keynesian Revolution illuminate some of the limitations of the Keynesian orthodoxy that developed after the war, bringing more institutional detail and a greater preocupation with dynamic analysis. Clark developed the multiplier in dynamic terms and coupled it with the accelerator to provide the framework for business cycle theory. His analysis was not formalized and emphasized time lags and non-linearities, similarly to Harrod. Also Clark was concerned with the inflationary consequences of Keynesian policies and he was dissatisfied with those mechanical interpretations of the income flow analysis, which came to be known as hydraulic Keynesianism. Clark's policy conclusions emphasized the need of balance between employment creation and price stability, and the need of cooperation between social groups
Tres ensayos sobre las causas y las consecuencias de la dolarización en Argentina
No full textEn el presente trabajo, se presenta un primer planteamiento del proyecto de tesis de doctorado a realizarse en la Universidad Nacional de San Martín. El mismo consta de la realización de tres artículos académicos cuya temática central va a ser la dolarización y su vínculo con la estanflación en Argentina. En el primer artículo se analizarán el orden de causalidad de las variables bajo estudio en base al caso argentino. Este producto será utilizado para realizar un modelo post-keynesiano y, finalmente, en base a los artículos previos, se realizará un estudio comparativo entre distintos países de la región.Fil: Graña Colella, Santiago. Universidad Nacional de Mar del Plata. Facultad de Ciencias Económicas y Sociales; Argentina.Fil: Vernengo, Matías. Bucknell University; Estados Unidos.Fil: Medici, Florencia. Observatorio Metropolitano de Economía y Trabajo. UNM-CONICET; Argentina
Raúl Prebisch : el desarrollo de la periferia
No full textFil: Pérez Caldentey, Esteban. Comisión Económica para América Latina y el Caribe; Argentina.Matías Vernengo y Esteban Pérez Caldentey nos acercan un Prebisch diferente: un Prebisch que transitó por las sendas de la ortodoxia y la heterodoxia económicas y que convirtió el estudio de la dinámica del ciclo económico y de la industrialización de la periferia en dos de sus obsesiones más importantes, poniendo el análisis del sector externo y la relación de los términos de intercambio en el centro de sus reflexiones. De esta manera, Vernengo y Pérez Caldentey nos acercan un Prebisch profundo, el de la CEPAL, la UNCTAD y el BCRA, controvertido en las diferentes facetas políticas que mostró a lo largo de su vida, y nos lo revelan como uno de los intelectuales más influyentes en la historia del pensamiento económico de América Latina.Matías Vernengo and Esteban Pérez Caldentey present us with a different side of Prebisch: a Prebisch who navigated the paths of both economic orthodoxy and heterodoxy, making the study of the dynamics of the economic cycle and the industrialization of the periphery two of his most important obsessions, placing the analysis of the external sector and the terms of trade at the heart of his reflections. In this way, Vernengo and Pérez Caldentey reveal a profound Prebisch—the Prebisch of ECLAC, UNCTAD, and the Central Bank of Argentina—a controversial figure in the various political roles he played throughout his life, and they present him as one of the most influential intellectuals in the history of Latin American economic thought.Matías Vernengo e Esteban Pérez Caldentey nos apresentam uma faceta diferente de Prebisch: um Prebisch que trilhou os caminhos da ortodoxia e da heterodoxia econômica, fazendo do estudo da dinâmica do ciclo econômico e da industrialização da periferia duas de suas maiores obsessões, colocando a análise do setor externo e dos termos de troca no centro de suas reflexões. Dessa forma, Vernengo e Pérez Caldentey revelam um Prebisch profundo — o Prebisch da CEPAL, da UNCTAD e do Banco Central da Argentina —, uma figura controversa nos diversos papéis políticos que desempenhou ao longo de sua vida, e o apresentam como um dos intelectuais mais influentes da história do pensamento econômico latino-americano
Monetary Policies for an MDG-Related Scaling up of ODA to Combat HIV/AIDS:Avoiding Dutch Disease Versus Supporting Fiscal Expansion
No full textThis Conference Paper by Matias Vernengo was presented at the ?Global Conference on Gearing Macroeconomic Policies to Reverse the HIV/AIDS Epidemic?, jointly organized by UNDP?s HIV/AIDS Group and IPC and held in Brasilia, November 2006. It is part of an IPC-supported Research Programme on ?Macroeconomic Policies to Combat HIV/AIDS?. The paper maintains that the monetary policies best suited to manage the macroeconomic effects of an MDG-related scaling up of HIV/AIDS financing are those that support the needed expansion of public spending - namely, monetary policies that maintain low rates of interest, increase overall liquidity in the economy and try to achieve a relatively depreciated currency.Poverty, MDG, HIV/AIDS, Monetary Policies
"Hegemonic Currencies during the Crisis: The Dollar versus the Euro in a Cartalist Perspective"
No full textThis paper suggests that the dollar is not threatened as the hegemonic international currency, and that most analysts are incapable of understanding the resilience of the dollar, not only because they ignore the theories of monetary hegemonic stability or what, more recently, has been termed the geography of money; but also as a result of an incomplete understanding of what a monetary hegemon does. The hegemon is not required to maintain credible macroeconomic policies (i.e., fiscally contractionary policies to maintain the value of the currency), but rather to provide an asset free of the risk of default. It is argued that the current crisis in Europe illustrates why the euro is not a real contender for hegemony in the near future.Dollar; Euro; International Currency
Revisiting the unit root hipothesis in macroeconomic series : a historical and empirical study for Argentina
No full textFil: Guaita, Silvio. Universidad de San Andrés. Departamento de Economía; Argentina.This paper is an application of different unit root tests to Argentina real GDP between 1810 and 2004. Particularly six tests are made: Augmented Dickey Fuller, Dickey Fuller GLS, Phillip-Perron, Kwiatkowski-Phillips-Schmidt-Shin, Elliott-Rothenberg-Stock Point Optimal and Ng-Perron Test. The main finding is that all tests favor the existence of a unit root in Argentine GDP when including the whole time series between 1810 and 2004. When considering structural breaks, dividing the whole period in three sub-periods, whose limits follow the paper by Perron (1989), the non-stationarity of the GDP tend to be confirmed, although for some individual tests the evidence on non-stationarity becomes weaker or disappears, especially for the sub-period between the Great Depression and the Oil shock. As we will show, these results coincide with the most literature available for Argentina. The relevance of such behavior of the GDP through time is linked to the possible long-run consequences of policy shocks, particularly monetary (as suggested in a footnote by Nelson and Plosser (1982) about the theoretical possibility of a “Tobin effect”) and fiscal policies (as suggested by the traditional portion of the endogenous growth theory where public spending may alter the rate of growth of the steady state) which could not only affect the GDP in the short run but also in the long run
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