SAY YOU FIX, ENJOY AND RELAX THE DELETERIOUS EFFECT OF PEG ANNOUNCEMENTS ON FISCAL DISCIPLINE

This paper explores the impact of actual exchange rate regimes on fiscal discipline, which we purportedly link to the effect of announcing the peg and to the availability of external funds. To stress this point, the focus of the analysis is emerging markets spanning from the beginning of the nineties, given the importance of financial integration in the last fifteen years and the centrality of external financing for these countries. We empirically show that announcing the pegs has deleterious effects on fiscal discipline, while ‘de facto’ pegs which have not been announced deliver superior fiscal outcomes. The evidence suggests that this is due to the initial positive credibility shock of the announcement, which allows for easier and less costly access to the financing of fiscal deficits in emerging countries.exchange rate regimes, fiscal discipline

Breaking the addition addiction: creating the conditions for knowing-to act in early algebra

We use data from a teaching experiment with a group of eight years old students to explore the potential of examining number sentences to promote relational thinking. This type of thinking requires attention to mathematical structure through consideration of relationships between terms contained in the sentence and not just on computation and comparison of the numeric values of each side. We show that children came to “know-to act” in the context of written activities and orchestrated discussions about number sentences, overcoming some of their computational habits and developing new ways to see and more flexibly approach the sentences. The results help to advance the study of young students´ emergent algebraic modes of thinking

Ideologías y Biblioteconomía.

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