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Sudden Stop, Financial Factors and Economic Collpase in Latin America : Learning from Argentina and Chile
Calvo, Guillermo A. - 2005
statement, we compare the polar cases of Chile and Argentina. While Chile exhibited a significant economic slowdown after August … 1998, it did not suffer the excruciating collapse suffered by Argentina, where even the payments system came to a full stop …. We attribute their difference to the fact that Chile is more open to trade than Argentina, and that it appears to suffer …
Persistent link: https://www.econbiz.de/10012467532
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The Costs of Financial Crises : Resource Misallocation, Productivity and Welfare in the 2001 Argentine Crisis
Sandleris, Guido - 2011
Financial crises in emerging market countries appear to be very costly: both output and a host of partial welfare indicators decline dramatically. The magnitude of these costs is puzzling both from an accounting perspective -- factor usage does not decline as much as output, resulting in large...
Persistent link: https://www.econbiz.de/10012461106
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Economic Recovery from the Argentine Great Depression : Institutions, Expectations, and the Change of Macroeconomic Regime
Paolera, Gerardo della - 2000
This work explores how Argentina overcame the Great Depression and asks whether active macroeconomic interventions made …-standard orthodoxy after the final suspension of convertibility in 1929. As elsewhere, fiscal policy in Argentina was conservative, and …
Persistent link: https://www.econbiz.de/10012471138
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Electoral Fraud, the Rise of Peron and Demise of Checks and Balances in Argentina
Alston, Lee J. - 2009
The future looked bright for Argentina in the early twentieth century. It had already achieved high levels of income … per capita and was moving away from authoritarian government towards a more open democracy. Unfortunately, Argentina never …
Persistent link: https://www.econbiz.de/10012463440
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Institutional Causes, Macroeconomic Symptoms : Volatility, Crises and Growth
Acemoglu, Daron - 2002
Countries that have pursued distortionary macroeconomic policies, including high inflation, large budget deficits and misaligned exchange rates, appear to have suffered more macroeconomic volatility and also grown more slowly during the postwar period. Does this reflect the causal effect of...
Persistent link: https://www.econbiz.de/10012469587
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Trade Adjustment and Productivity in Large Crises
Gopinath, Gita - 2011
We empirically characterize the mechanics of trade adjustment during the Argen- tine crisis using detailed transaction-level customs data covering the universe of import transactions during 1996-2008. Though imports collapsed by nearly 70 percent from 2000-2002, the entry and exit of firms or...
Persistent link: https://www.econbiz.de/10012461699
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Interest Rates, Contagion and Capital Controls
Edwards, Sebastian - 2000
In this paper I analyze several issues related to contagion,' including its definition, recent experiences, alternative channels at work, and possible prevention mechanisms. The discussion deals with the macroeconomics implications of contagion, and concentrates on the relationship between the...
Persistent link: https://www.econbiz.de/10012470949
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The Baring Crisis and the Great Latin American Meltdown of the 1890s
Mitchener, Kris James - 2007
to understand the extent to which the crisis mattered for countries other than Argentina and England. Using a new …
Persistent link: https://www.econbiz.de/10012465247
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Sudden Stops, the Real Exchange Rate, and Fiscal Sustainability : Argentina's Lessons
Calvo, Guillermo A. - 2003
We offer an alternative explanation for the fall of Argentina's Convertibility Program based on the country … prices is larger the more closed an economy is in terms of its supply of tradable goods. By contrasting Argentina … of 1998, we identify key vulnerability indicators that separated Argentina from its piers. We also provide an explanation …
Persistent link: https://www.econbiz.de/10012468870
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Gaucho Banking Redux
Paolera, Gerardo della - 2003
Argentina's economic crisis has strong similarities with previous crises stretching back to the nineteenth century. A …
Persistent link: https://www.econbiz.de/10012469246