Post-liberal Regionalism in South America: The Case of UNASUR

This paper examines the formal features, the political rationale, distinctiveness, potential, and difficulties of post-liberal regionalism, with a particular focus on the case of UNASUR. Through this organization, traditional unionism and aspirations of Latin American regional integration are redefined in a South American geographic and ideational framework. Through this strategy South America became a political and economic construct in order to respond to globalization challenges and to achieve its members’ goals in development, regional autonomy (particularly in regards to the US), international influence and at the same time domestic governance of the involved countries. Nevertheless, the limits of this project’s future are being defined by nationalism, traditional visions of sovereignty and by a regional construction that involve significant institutional limitations, which are product of its intergovernmental logic, internal asymmetries and ambivalent Brazilian leadership

Using a CGE Model to Identify the Policy Trade-Off between Unemployment and Inflation: The Efficient Phillips Curve

This paper provides a new reading of a classical economic relation: the short-run Phillips curve. Our point is that, when dealing with inflation and unemployment, policy-making can be understood as a multicriteria decisionmaking problem. Hence, we use so-called multiobjective programming in connection with a computable general equilibrium (CGE) model to determine the combinations of policy instruments that provide efficient combinations of inflation and unemployment. This approach results in an alternative version of the Phillips curve labelled as efficient Phillips curve. Our aim is to present an application of CGE models to a new area of research that can be especially useful when addressing policy exercises with real data. We apply our methodological proposal within a particular regional economy, Andalusia, in the south of Spain. This tool can give some keys for policy advice and policy implementation in the fight against unemployment and inflation.