This paper builds analytical arguments to explain government´s policy choice under economic crisis in Argentina between 1982 and 2008. I first observe a set of variables related with the content and direction of economic policies (currency, monetary and fiscal). Second, I analyze political and institutional mechanisms and tools that were used by officials to implement stabilization program (presidential veto power). I suggest that argentine governments are more likely to increase flexibility to the exchange rate the lower is the balance sheet mismatch in public debt and the possession of political resources to reduce veto points. The paper compares four critical junctures: the performance of the military government during the crisis of 1982, the decisions taken by Menem´s Administration against the tequila crisis in 1995, the stabilization program President Duhalde handled in 2002, and how Cristina Kirchner managed 2008 economic crisis.
