A WELFARE ANALYSIS OF ECONOMIC FLUCTUATIONS IN SOUTH AMERICA

How large are welfare costs associated with economic aggregate fluctuations is a topic of great concern among economists at least since Robert Lucas' well-known and thought-provoking exercise in the late 1980s. Our analysis assesses the magnitude of such costs for nine countries in South America by means of three alternative trend-cycle decomposition methods. The results suggest South American countries have welfare costs of economic fluctuations notably higher than the U. S. economy.

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Year of publication:	2004
Authors:	Gomes, Fábio Augusto Reis ; Nascimento, Leandro Gonçalves do
Institutions:	Associação dos Centros de Pós-Graduação em Economia - ANPEC

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Extent:	application/pdf
Series:	Anais do XXXII Encontro Nacional de Economia [Proceedings of the 32th Brazilian Economics Meeting].
Type of publication:	Book / Working Paper
Language:	English
Classification:	C32 - Time-Series Models ; E32 - Business Fluctuations; Cycles ; C51 - Model Construction and Estimation ; E60 - Macroeconomic Policy Formation, Macroeconomic Aspects of Public Finance, Macroeconomic Policy, and General Outlook. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005001614