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Biblioteca

12 de mayo 2015
La Macroeconomía y la Crisis: ¿La Crisis de la Macroeconomía?

The economic policies implemented in the U.S. economy and other industrial nations during the years preceding the recent financial crisis have been strongly criticized for being too “liberal” regarding the functioning and regulation of markets. There are also those who question the vision and responsibility of the regulatory bodies. Furthermore, the crisis triggered criticism from […]

10 de abril 2015
On Endogenous Social Security Crisis

This paper addresses the causes and the dynamics of the pay-as-you-go social security financial crisis. Its main hypothesis is a self-reinforcing circle between the social security system, fertility rate and labor supply. We argue that changes on the pay-asyou- go social security tax rate may induce a subsequent demographic transition and a decrement in labor […]

05 de marzo 2015
Endogenous Social Security Financial Crises

This paper addresses the causes and dynamics of pay-as-you-go social security financial crises. Its main hypothesis is there exists a self-reinforcing vicious circle between the social security system, the fertility rate and labor supply. We argue that changes in the pay-as-you-go social security tax rate may induce a subsequent demographic transition and a decline in […]

05 de marzo 2015
Social Security Financial Crises

This paper explores the causes of the social security financial crises. We indicate that the financial crisis might be endogenous to the social security system. The main idea is that the PAYG social security system might affect fertility and human capital’s decisions and therefore, may negatively impact the aggregated growth rate of the economy. These […]

15 de enero 2015
El Gran Descalabro. La Macroeconomía de la Primera Crisis Financiera del Siglo XXI

En la segunda mitad de la década pasada irrumpió con fuerza en Estados Unidos una crisis financiera a menudo identificada como “subprime” o el “Gran Descalabro”. Su desencadenamiento se relacionó con los problemas de pago de créditos hipotecarios entregados a personas de alto riesgo y ocurrió tras un prolongado período de estabilidad en la economía […]