Instability and Trade in Currency Areas

In a currency area, when a country faces a positive shock inflation goes up, real interest rate decreases and competitiveness deteriorates. We show that the stability of equilibrium depends on the rationality of expectations and budget balance of the public sector.Publicad

Instability and trade in currency areas

We present a model of a currency area in which labor markets of country members are isolated but there is trade among these countries. When a country experiences a negative (resp. positive) shock, inflation goes down (up). This causes two effects. On the one hand the real interest rate of this country increases (decreases). On the other hand the goods produced in this country become more (less) competitive. We show that the stability of the system depends on several factors, including a large competitive effect, how inflation expectations are formed and fiscal policy. In general, stability requires a trade-off between the rationality of expectations and budget balance

The collision of masses and the way prices react to expectations

When a body is impacted by other bodies its position is determined by the force of the impacts, likewise the price of a share is determined by expectations. This study intents to establish taxonomy of expectations based on the different types of impacts a body can receive, these can be: a blow without penetration, a blow that penetrates and stays in the body, a blow that goes through the body without affecting the body mass, and lastly, a blow that reduces but does not penetrate the body mass

La obra de arte en la era de su reproductibilidad biotecnológica

El presente artículo aborda asuntos relativos a la emergencia de las biotecnologías y su repercusión biopolítica en la subjetividad a partir de la deconstrucción del binomio cultura/naturaleza.Tal deconstrucción representa un eje desde el cual me aproximaré a desarrollar asuntos relativos al potencial biopolítico del bioarte. Posteriormente articularé dicho potencial con formas de subjetivación post-coloniales referentes a la construcción del discurso mestizo en el contexto del estado republicano. De tal modo la producción estética basada en biotecnologías es propuesta como una forma de elaboración plástica y conceptual que además de abordar las relaciones ecológicas permite una reconstrucción del cuerpo como una unidad informática múltiple