New Economics Papers
on Central and South America
Issue of 2008‒12‒01
three papers chosen by

  1. Oil Prices and Venezuela's Economy By Mark Weisbrot; Rebecca Ray
  2. Tradable Permits in Developing Countries: Evidence from air pollution in Santiago, Chile By Coria, Jessica; Sterner, Thomas
  3. The Impact of Global Competition on Jobs and Skills in Latin America By Gary Gereffi

  1. By: Mark Weisbrot; Rebecca Ray
    Abstract: This paper looks at Venezuela’s export revenue, imports, and trade and current account balances under a range of oil price outcomes for the next two years. It finds that Venezuela would run large current account surpluses for prices between $60-90 per barrel, and would even run a small surplus with prices at $50 per barrel. (Most oil industry estimates for the next two years are in the range of $80-90 per barrel). The authors conclude that Venezuela is unlikely to run into foreign exchange constraints in the foreseeable future, and can pursue expansionary fiscal policies to counter any economic downturn.
    Keywords: Venezuela, Venezuelan oil exports, Venezuelan government revenue
    JEL: E E6 E62 F F1 F14 O54 Q4 Q43 Q48
    Date: 2008–11
  2. By: Coria, Jessica (Department of Economics, School of Business, Economics and Law, Göteborg University); Sterner, Thomas (Department of Economics, School of Business, Economics and Law, Göteborg University)
    Abstract: Santiago was one of the first cities outside the OECD to implement a tradable permit program to control air pollution. This paper looks closely at the program’s performance over the past ten years, stressing its similarities and discrepancies with trading programs implemented in developed countries, and analyzing how it has reacted to regulatory adjustments and market shocks. Studying Santiago's experience allows us to discuss the drawbacks and advantages of applying tradable permits in less developed countries
    Keywords: air pollution; environmental policy; tradable permits; developing countries
    JEL: Q53 Q58
    Date: 2008–11–19
  3. By: Gary Gereffi (Duke University)
    Date: 2008–08

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