An analytic Pade-motivated QCD coupling

We consider a modification of the Minimal Analytic (MA) coupling of Shirkov and Solovtsov. This modified MA (mMA) coupling reflects the desired analytic properties of the space-like observables. We show that an approximation by Dirac deltas of its discontinuity function $\rho$ is equivalent to a Pad\'e (rational) approximation of the mMA coupling that keeps its analytic structure. We propose a modification to mMA that, as preliminary results indicate, could be an improvement in the evaluation of low-energy observables compared with other analytic couplings.Comment: 2 pages, 1 figure (double), to appear in the Proceedings of the VIII Latin American Symposium on Nuclear Physics and Applications, Santiago, Chile, 15-19 December 2009. Poster presented by H. E. Martine

The Political Economy of Exchange Rate Policies in Argentina

This paper identifies three periods in Argentine exchange rate policy, corresponding with different development strategies and political coalitions. The first, periodic adjustments to a pegged rate until the mid-1970s, accompanied an Import Substitution Industrialization approach and a redistribution of income from agrarian to industrial production during an era of strong labor union influence. A second period, from the mid-1970s, marked by accelerated devaluations, represented efforts by both military and civilian governments to meet the demands of their respective constituencies while maintaining capital flows from abroad; these efforts culminated in hyperinflation. A third period, beginning in the early 1990s, was notable for exchange rate stability, based on the Convertibility Plan, as a broad consensus emerged that the exchange rate should be used for containing inflation rather than engaging in redistribution among domestic interest groups. The authors conclude that additional innovations in Argentina`s monetary and exchange rate policies may eventually be necessary.

Flexibility at the margin and labor market volatility in OECD countries

We argue that segmented labor markets with flexibility at the margin (e.g., just affecting fixed-term employees) may achieve similar volatility than fully deregulated labor markets. Flexibility at the margin produces a gap in separation costs among matched workers that cause fixed-term employment to be the main workforce adjustment device. Moreover, in the presence of limitations in the duration and number of renewals of fixed-term contracts, firms respond by fostering labor turnover which further raises the volatility of the labor market. We present a matching model with temporary and permanent jobs where (i) the gap in firing costs and (ii) restrictions in the use of fixedterm contracts play the central role to explain the similar volatility observed in many regulated labor markets with flexibility at the margin vis-à-vis the fully deregulated ones