The crash on the New York stock exchange in 1929 brought depression to the world. That is probably why when the global financial crisis broke in 2008, some observers thought the contagion originating in New York would again spread south, causing a collapse in Latin America and the Caribbean. But that didn't happen. Why? The region's internal situation in 2008 was "lean and … [Read more...] about How Can Latin America and the Caribbean Avoid the Next Financial Crisis?
Juan M. Hernández
Juan M. Hernández is a Research Economist in the Research Department at the Inter-American Development Bank. He received his Ph.D. in Economics from the University of Pennsylvania in 2017, just before joining the IDB. He holds a B.Sc. in Economics, a B.Sc. in Mathematics and a M.Sc. in economics from the Universidad de Los Andes in Colombia. Prior to starting his Ph.D. studies in 2011 he spent 4 years as an Economist in Colombia’s Central Bank (Banco de la República). His research interests are in the fields of international finance, macroeconomics and financial frictions. Juan has been working on Sudden Stops and balance of payments crises, analyzing the role of international reserves and macroprudential policies in preventing such events. He also works on understanding the incidence of taxes and access to credit on the decision to become an entrepreneur, taking into account information asymmetries; designing optimal financial regulation and taxation policies that maximize productivity. Another topic Juan is currently studying is optimal progressive taxation in environments where informality and tax evasion diminish the revenue redistribution the tax authority can achieve.