Cretaceous intraplate contraction in Southern Patagonia: A far-field response to changing subduction dynamics?

The origin, extent, and timing of intraplate contraction in Patagonia are among the least understood geological processes of southern South America. Particularly, the intraplate Deseado fold-thrust belt (FTB), located in the Patagonian broken foreland (47°–48°300 S), is one of the most enigmatic areas. In this belt, time constraints on tectonic events are limited and synorogenic deposits have not been documented so far. Furthermore, the driving mechanism for intraplate contraction remains unknown. In this study, we carried out a structural and sedimentological analysis. We report the first syntectonic deposits in this area in the Baqueró (Aptian) and Chubut (Cenomanian/Campanian) groups and a newly found unit referred to as the Albian beds (109.9 ± 1.5 Ma). Thus, several contractional stages in late Aptian, Albian, and Cenomanian-Campanian are then inferred. We suggest that the Deseado FTB constituted the southernmost expression of the early Patagonian broken foreland in Cretaceous times. Additionally, we analyzed the spatiotemporal magmatic arc behavior as a proxy of dynamic changes in the Andean subduction during determined stages of intraplate contraction. We observe a significant arc broadening from ~121 to 82 Myr and magmatic quiescence after ~67 Ma. This is interpreted as a slab shallowing to flattening process. Far-field tectonic forces would have been produced by increased plate coupling linked to the slab flattening as indirectly indicated by the correlation between Cretaceous arc expansion and intraplate contraction. Finally, the tectonic evolution of the Deseado FTB favors studies supporting inception of Andean shortening since Cretaceous times.Fil: Gianni, Guido Martin. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - San Juan; Argentina. Universidad Nacional de San Juan. Facultad de Ciencias Exactas, Físicas y Naturales. Instituto Geofísico Sismológico Volponi; ArgentinaFil: Navarrete Granzotto, César Rodrigo. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - San Juan; Argentina. Universidad Nacional de la Patagonia "San Juan Bosco"; ArgentinaFil: Liendo, Ingrid Florencia. Universidad Nacional de la Patagonia "San Juan Bosco"; ArgentinaFil: Díaz, Marianela Ximena Yasmin. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - San Juan; Argentina. Universidad Nacional de San Juan. Facultad de Ciencias Exactas, Físicas y Naturales. Departamento de Geología; ArgentinaFil: Gimenez, Mario Ernesto. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - San Juan; Argentina. Universidad Nacional de San Juan. Facultad de Ciencias Exactas, Físicas y Naturales. Instituto Geofísico Sismológico Volponi; ArgentinaFil: Encinas, Alfonso. Universidad de Concepción; ChileFil: Folguera Telichevsky, Andres. Consejo Nacional de Investigaciones Científicas y Técnicas. Oficina de Coordinación Administrativa Ciudad Universitaria. Instituto de Estudios Andinos "Don Pablo Groeber". Universidad de Buenos Aires. Facultad de Ciencias Exactas y Naturales. Instituto de Estudios Andinos "Don Pablo Groeber"; Argentina. Universidad de Buenos Aires. Facultad de Ciencias Exactas y Naturales. Departamento de Ciencias Geológicas; Argentin

A Short-Run Analysis of Exchange Rates and International Trade with an Application to Australia, New Zealand, and Japan

The information and communication technology (ICT) revolution of the past 3 decades has transformed the world into an integrated marketplace. Today, producers and consumers alike are able to compare the prices of local businesses and worldwide sellers. For an increasing number of tradable goods, they can take advantage of arbitrage opportunities between online and offline transactions. One of the key exogenous elements behind this arbitrage is exchange rate movements. The existing literature on exchange rates has concluded that nominal prices can be assumed to be rigid, which thus opens the door to short-term international arbitrage. However, empirical evidence of international short-term arbitrage has so far been lacking due to data constraints. In this paper, we first present a new dataset that holds records on daily international exchanges of goods, namely those sent through the international postal logistics network. We then combine this data set with daily data on international exchange rate movements to test the hypothesis of international arbitrage. Applying different econometric techniques, we show that in an environment of floating exchange rates, almost instantaneous short-term international arbitrage is indeed occurring and that it has a persistent effect. The effect seems to be particularly pronounced in the developed countries of Asia and the Pacific

Trade Imbalances and Multilateral Trade Cooperation

Rising current account and merchandise trade imbalances marked the years before the global financial and economic crisis. These imbalances either contributed to or precipitated the crisis and to the extent that they create systemic risks, it is desirable that they be reduced. There are many factors related to macroeconomic, structural, exchange rate and financial policies that contributed to the imbalances. The inability to manage these issues at the international level reflects the coherence gap in global governance. This paper examines the contribution that the WTO can make in its three areas of activities - negotiations, rule-making and dispute settlement - to deal with trade imbalances and with the main factors leading to them, including exchange rate misalignments. First, market opening efforts in services, including in the area of financial services, can reduce policy-related distortions and market imperfections in surplus countries that lead to the build-up of unsustainable imbalances. Second, in the context of a broad international effort to coordinate macroeconomic, exchange rate and structural policies to deal with the roots of imbalances (the first-best solution), there is a general efficiency argument that could be made for the use of WTO-triggered trade actions to enforce cooperative behaviour towards rebalancing. Absent this first-best response, trade rules alone would not provide an efficient instrument to compensate for the weaknesses in international co-operation in macroeconomic, exchange rate and structural policies