This paper puts forward an innovative construct called the Statute of Governance, by which a company can foster and enhance its corporate governance. The paper argues that it is not enough to list some principles of governance and a set of related good practices, as the Australian Stock Exchange has done, albeit it comprises the best available guidelines for the time being. We contend, however, that a step further should be taken, consisting of a Statute of Governance designed and passed by the Board, voted through by stockholders, and enacted by the management.

Natural language is a shared social convention that allows hearers to understand speakers. We model this using two steps. First, an encoding-decoding step where the sender transmits verbal information to the receiver. Second, an inferential step where the receiver may either believe the literal meaning of the message or disregard it in updating priors. These epistemic steps sharply restrict the beliefs that may be entertained on and off the equilibrium path. When there are credible messages, natural language is a powerful means to select equilibria.

At the time of Argentina´s greenhouse gases emissions reduction voluntary commitment, most of the articles on intensity targets had not been published. The aim of this paper is to (re)discuss briefly the proposal made by Argentina taking into account that literature. To justify the adopted target form and stringency, we compare fixed and dynamic targets in terms of the likelihood of “hot air”, the relationship between allowed emissions and GDP, the link between abatement and GDP, and outcomes´ dispersion.

El objetivo de este trabajo es describir mecanismos incorporados en los contratos de construcción de obras que sirven para disminuir los costos de transacción. Se analizan las soluciones a los problemas contractuales propios de esta actividad, en particular a aquellos originados en la especificidad de los activos y en la racionalidad limitada. Los conceptos teóricos empleados se utilizan para comprender la lógica económica de un caso real de contratación de obra pública.

La globalización es un término en boga que se utiliza para explicar el reciente acercamiento económico y social producido entre los habitantes de naciones distantes. A pesar que la palabra fue acuñada hace unas décadas atrás, este concepto es antiguo. Los países a lo largo de diferentes períodos de la historia estuvieron más cerca o más distantes. Imperios con sistemas de gobierno unificado concibieron lazos entre culturas lejanas que se disolvieron junto a la caída de los mismos.

Los derivados crediticios constituyen una amplia gama de instrumentos financieros cuyo valor se genera por la ocurrencia de eventos crediticios. Son usualmente negociados en forma bilateral a través del mercado OTC aunque esta tendencia puede modificarse a futuro. Su volumen y complejidad experimentó un crecimiento sustancial en los últimos años, habiéndosele adjudicado un rol importante en la reciente crisis financiera originada por las hipotecas subprime; ello explica que su tratamiento regulatorio esté siendo revisado en la actualidad en diversos ámbitos.

The Universidad del Cema, since its origins as a Research Center (CEMA), has maintained close ties with the University of Chicago. During the first year of CEMA’s life –1978– most of its researchers had Ph.D.’s from Chicago: Pedro Pou, Roque Fernández, Jorge Márquez, Leonardo Auernheimer and Carlos Rodríguez. Many of the graduates from our Master in Economics program went on to do their Ph.D.’s in Chicago, among whom three subsequently returned to Universidad del Cema as Program Directors: Carola Pessino, Aquiles Almansi and Edgardo Zablotsky.

Presentamos los conceptos centrales de la gestión de proyectos, una actividad orientada a aumentar la probabilidad de obtener resultados organizacionales favorables con la aplicación de conocimientos, habilidades, herramientas y técnicas selectas de la administración, dentro de un marco temporal específico. Describimos, como elemento motivador, el contraste entre un proyecto antiguo, la Muralla China, con un proyecto moderno, la represa de Tres Gargantas. Una adecuada gestión de proyectos es un componente fundamental para sostener el crecimiento de una firma.

Populism and Latin America, especially Argentina, are very good friends. Since the Great Depression, a shock from which the country has been unable to recover, Argentina is a classic example of Populism. Her economic decline for the last eighty years attests in this sense. As Populism is a hybrid of interventionist policies that go away and come again according to circumstances, in the long run, this non-system is possibly more harmful than Socialism. Public opinion becomes too baffled to find Populism guilty of economic failure.

Populism and Latin America, especially Argentina, are very good friends. Since the Great Depression, a shock from which the country has been unable to recover, Argentina is a classic example of Populism. Her economic decline for the last eighty years attests in this sense. As Populism is a hybrid of interventionist policies that go away and come again according to circumstances, in the long run, this non-system is possibly more harmful than Socialism. Public opinion becomes too baffled to find Populism guilty of economic failure.