Journal Article
Default and lost opportunities: a message from Argentina for euro-zone countries
Zarazaga, Carlos E. (2012-05)
Argentina's experience suggests that default will be accompanied by costs that may be missed by looking only at output growth.
Economic Letter , Volume 7 , Issue 4

Journal Article
The Mexican economy snaps back
Gould, David M.; Zarazaga, Carlos E.; Gruben, William C. (1997-03)
Southwest Economy , Issue Mar , Pages 9-10

Journal Article
Inflation is not always and everywhere a monetary phenomenon
Zarazaga, Carlos E.; Tutino, Antonella (2014-06)
Fiscal policy is as significant as, and sometimes more important than, monetary policy in determining the price level and, therefore, the dynamics of inflation.
Economic Letter , Volume 9 , Issue 6 , Pages 1-4

Journal Article
Beyond the border: Latin American market reforms put to the test
Kiser, Sherry L.; Zarazaga, Carlos E. (2002-07)
Southwest Economy , Issue Jul , Pages 9 -10

Journal Article
Is the business cycle of Argentina "different?"
Kydland, Finn E.; Zarazaga, Carlos E. (1997-10)
Despite the relative success of Real Business Cycle (RBC) models to replicate key moments of the business cycles of the United States and several European countries, economic research in Latin America tends to take the more traditional view that monetary factors play a predominant role in the economic fluctuations of countries in that part of the world. The different theoretical approach is often justified on the grounds that business cycles in Latin America are "different." However, few comparative studies have analyzed the relevant difference between the business cycles of Latin America ...
Economic and Financial Policy Review , Issue Q IV , Pages 21-36

Journal Article
Measuring the benefits of unilateral trade liberalization, Part I: static models
Zarazaga, Carlos E. (1999-07)
Multilateral trade agreements generally require protracted and complicated negotiations. An obvious alternative is unilateral trade liberalization. However, would this simpler route toward free trade improve a country's welfare? This article, the first in a series of two, addresses this question using applied static models of international trade. The second article will examine the issue from the perspective of dynamic models. In the current article, Carlos Zarazaga discusses why static models fail to produce a clear-cut case in favor of unilateral trade liberalization. He points out, ...
Economic and Financial Policy Review , Issue Q III , Pages 14-25

Journal Article
Labor Market Not Overly Tight, Demographically Adjusted Measure Shows
Zarazaga, Carlos E.; Mihaylov, Emil (2018-12)
Elevated inflation traditionally accompanies prolonged low unemployment rates, such as those currently observed in the U.S. However, price pressures have remained comparatively restrained, prompting further examination. The labor input utilization rate? the proportion of total hours individuals devote to work?provides insight when demographically adjusted, particularly when accounting for aging baby boomers. The indicator suggests the labor market wasn?t overly tight in second half 2018.
Economic Letter , Volume 13 , Issue 10 , Pages 1-4

Journal Article
Exchange rates: fixed, pegged, or flex? Should we care?
Zarazaga, Carlos E. (1997-11)
Southwest Economy , Issue Nov , Pages 9-10

Working Paper
Argentina’s “Missing Capital” Puzzle and Limited Commitment Constraints
Kapicka, Marek; Kydland, Finn E.; Zarazaga, Carlos E. (2018-12-01)
Capital accumulation in Argentina was slow in the 1990s, despite high total factor productivity (TFP) growth and low international interest rates. A possible explanation for the ?missing capital? is that foreign investors were reluctant to take advantage of the high returns to investment seemingly offered by that small open economy under such favorable conditions, on the grounds that previous historical developments had led them to perceive Argentina as a country prone to external debt ?opportunistic defaults.? The paper examines this conjecture from the perspective of an optimal contract ...
Working Papers , Paper 1815

Hours Worked by Women Age 55 to 61 Confound Labor Market Analysis
Gross, Andrew; Zarazaga, Carlos E. (2019-11-26)
The seemingly anomalous low LIUR of one particular demographic group poses a challenge for assessing the extent to which the U.S. economy is currently close to full employment.
Dallas Fed Economics