Despite uncertainties in the global economy, Latin American countries have attracted a significant amount of Foreign Direct Investment (FDI) in recent years. Investing in Latin America is now a central pillar of many ...

What is the impact of trade liberalization and economic integration on the geographical distribution of economic activities? To address this question the present paper proposes a conceptual framework based on recent ...

We study Colombia’s trade integration over a 30 year period through the lens of GE model in which non-exporters have access to a risky exporting technology and exporters must invest in accumulating a better exporting ...

La hipótesis principal del trabajo es que el mal desempeño de América Latina en términos de comercio intrarregional se explica por los altos niveles de costos comerciales. Se construyó una base de datos para el período ...

We investigate the extent to which financial frictions shape the aggregate effects of a trade liberalization through their impact on aggregate total factor productivity (TFP) and capital misallocation. We study a small ...

Why are there vast differences in agricultural activity across space? How do these differences shape the aggregate impact of agricultural shocks? To address these questions, I build a quantitative general equilibrium model ...

Customs are often prone to corruption because it concentrates a lot of discretionary power in the hand of custom agents who take decisions with high economic stakes for the firms, providing an opportunity for custom agents ...

This paper studies the effects of the capital controls imposed by Chile between 1991 and 1998, i.e. the Chilean encaje, on firms' production, investment and exporting decisions. We use a general equilibrium model with ...

Total gains from openness come through three channels: (i) trade, (ii) domestic multinational production (DMP), and (iii) bridge multinational production (BMP). We develop a quantitative theory to measure the effects of ...

We study how countries choose intra-bloc tariffs and preferential margins in Preferential Trade Agreements (PTAs). Our model indicates that countries should set systematically lower prefer-ential margins when the bloc takes ...