Martin Guzman is a research associate at Columbia University, Professor of Economics at the University of Buenos Aires, and senior non-resident fellow at the Center for a New Economy in San Juan, Puerto Rico. He is a co-chair of Columbia IPD’s Taskforce on Debt Restructuring and Sovereign Bankruptcy, and a member of the INET Research Group on “Macroeconomic Efficiency and Stability”. He holds a PhD in Economics from Brown University. His research fields are Macroeconomics, Monetary Economics, and Economic Growth.
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Clear rules and sound principles for debt restructuring would level the playing field between developing countries and creditors
A change in macroeconomic policies will not be sufficient to set Argentina on a path of inclusive and sustained economic development. But, as last month’s currency scare showed, abandoning the approach adopted by President Mauricio Macri’s administration at the end of 2015 is a necessary step.
With growth fueled by an increase in debt, Argentina is facing an uncertain economic future, despite investors’ generally rosy view. The government of Mauricio Macri has options to address the country’s macroeconomic risks, but none of them will be free of tough choices.
This paper analyzes what assumptions on formation of expectations are consistent with Minsky’s Financial Instability Hypothesis (FIH) and its corollaries.
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The path of austerity could spread economic pain and social woes far beyond the Caribbean island, says public debt expert Martin Guzman