Kehoe, Timothy Jerome - 2003
tend to induce a smoother labor input than that in Figure 5.
Rigidities in the Argentine labor market, on the other hand …, may have caused hours
worked to fluctuate less than in the frictionless labor market in our model, causing hours
worked …
depression.”
The economy of Argentina finds itself submerged in a great depression that, even
if it began four years ago …