Las transiciones a la democracia generalmente constituyen procesos de alta complejidad en materia de ingeniería política orientada a la gobernabilidad. España en 1976, Argentina en 1983 y Chile en 1988 emprendieron dicho proceso con diferentes puntos de partida. Sin embargo, determinados fenómenos políticos son comparables si se establecen las condiciones equiparables (Sartori, 1994), y a pesar de tener distintos orígenes, cada una de estas transiciones enfrentó desafíos comunes.

The central hypothesis of this article is that liability regulation can foster firms’ incentives to study the (potential) dangers of their products. We discuss alternative views and develop a formal model to analyze a firm´s incentive structure under the application of hindsight liability.

We analyze a recent paper that claims that dollarizing an economy in the presence of a “dollar shortage” will provoke an immediate sharp reduction in real output and welfare. We find many problems with the model that supports this conclusion: confusion about the nature of a dollar shortage and its practical implications, invalid assumptions, invariant calibration in the presence of a regime change and lack of empirical testing. In our opinion, the paper does not make a valuable contribution to the dollarization debate nor provide useful guidance to policymakers.

Presento un compacto de la vida y la trayectoria de Herny Kissinger antes de sintetizar y reflexionar sobre su obra.

In this paper, we present a comprehensive analysis of the technology underpinning Generative Pre-trained Transformer (GPT) models, with a particular emphasis on the interrelationships between Euclidean distance, spatial classification, and the functioning of GPT models. Our investigation begins with a thorough examination of Euclidean distance, elucidating its role as a fundamental metric for quantifying the proximity between points in a multi-dimensional space.

We offer a critique of a paper recently published Lorenzoni and Werning (2023) that seeks to make an original contribution to the hypothesis that inflation is primarily caused by conflict and reconcile the Post-Keynesian and New-Keynesian traditions. L&W’s paper has two sections. In the first they develop a barter model that allows them to prove that inflation can occur with conflict and without money. In the second they incorporate the conflict hypothesis into a broader framework compatible with New Keynesian models.

El presente trabajo evalúa la forma en que Israel se convierte en una Start-up Nation. Dentro del mismo se explicitan los factores económicos y no económicos que conllevaron a que el país pueda desarrollarse dentro de un entorno hostil. A su vez, se explican las diferentes políticas públicas que contribuyeron al desarrollo del país. También se utiliza como contraejemplo a la Argentina para comprender el porqué del desarrollo de Israel.

Basada principalmente en mi memoria, este ensayo plantea una reflexión personal sobre lo ocurrido en las últimas 4 décadas en el escenario internacional, el contexto político local, las autoridades económicas, las políticas ensayadas y los resultados obtenidos. Complementa la obra escrita ajena y propia referida al período 1983-2023. Servirá de poco a quien nada sabe sobre el período; espero que le resulte útil a quienes saben algunas cosas.

The goal of this document is to present a methodology for estimating probabilities for ordered sets. This may have several practical applications such as calibration of Rating Models, estimation of Mortality Tables or measurement of side effects related to different doze sizes. In order to do this, an Objective / Non Informative Bayesian approach is applied, through which, using a multidimensional Jeffreys prior, a posterior distribution may be inferred for each of the probabilities being estimated.

One of the main reasons to dollarize is to eliminate high, persistent, and volatile inflation.
However, to be effective, dollarization must generate sufficient credibility, which in turn
depends critically on a low expected probability of reversal. In other words, dollarization can
be successful if it is an effective commitment device (ECD). Argentina once again faces high,
persistent, and volatile inflation. With a looming presidential election politicians and academics
are evaluating several options to stabilize prices and put the economy on a path of sustained