nep-lam New Economics Papers
on Central and South America
Issue of 2017‒05‒21
three papers chosen by
Maximo Rossi
Universidad de la República

  1. Beresford’s Revenge: British equity holdings in Latin America, 1869-1929 By Richard S.Grossman
  2. Skill Premium, Labor Supply and Changes in the Structure of Wages in Latin America By Fernandez Sierra, Manuel; Messina, Julián
  3. La demanda de energía del sector transporte y el cambio climático en Honduras: informe final By Vásquez Lavín, Felipe; Ponce Oliva, Roberto; Hernández, José Ignacio

  1. By: Richard S.Grossman (Department of Economics, Wesleyan University)
    Abstract: This paper presents monthly capital gain, dividend yield, and total return indices, and measures of total capitalization for common equity of Latin American and Caribbean-based firms quoted on the London Stock Exchange during 1869-1929. In addition to an overall Latin American index, I present and analyze sub-indices for countries (e.g., Argentina, Brazil, Chile) and industrial sectors (e.g., banks, mines, railways) with extensive UK listings. I compare the Latin American and Argentinian indices with data from Argentina’s Bolsa index during 1900-1929. I also use the indices to compare equity market fluctuations across Latin American sectors and countries during the Baring crisis of 1890.
    Date: 2017–05
  2. By: Fernandez Sierra, Manuel (University of Oxford); Messina, Julián (Inter-American Development Bank)
    Abstract: Earnings inequality declined rapidly in Argentina, Brazil and Chile during the 2000s. A reduction in the experience premium is a fundamental driver of declines in upper-tail (90/50) inequality, while a decline in the education premium is the primary determinant of the evolution of lower-tail (50/10) inequality. Relative labor supply is important for explaining changes in the skill premiums. Relative demand trends favored high-skilled workers during the 1990s, shifting in favor of low-skilled workers during the 2000s. Changes in the minimum wage, and more importantly, commodity-led terms of trade improvements are key factors behind these relative skill demand trends.
    Keywords: earnings inequality, unconditional quantile regressions, supply-demand framework, human capital
    JEL: E24 J20 J31
    Date: 2017–04
  3. By: Vásquez Lavín, Felipe; Ponce Oliva, Roberto; Hernández, José Ignacio
    Abstract: El objetivo de este estudio, realizado por la CEPAL a solicitud del gobierno de Honduras, en el marco del Programa EUROCLIMA, es revisar la literatura teórica y empírica sobre cambio climático, la importancia de la demanda de energía del transporte y sus relaciones con las actividades económicas, el medio ambiente y el cambio climático a nivel internacional y en Honduras.
    Date: 2017–04

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