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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/10013119037
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/10013222318
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/10013127011
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/10013151645
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/10013224669
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/10013221515
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/10012759835
contagion across sovereign bonds between Argentina and Mexico. The estimates of the simultaneous parameters are relatively to …
Persistent link: https://www.econbiz.de/10012763760
Argentina's economic crisis has strong similarities with previous crises stretching back to the nineteenth century. A …
Persistent link: https://www.econbiz.de/10012767777
kinds of financial crises for four countries (Argentina, Australia, Canada, and the United States) over the long-run …
Persistent link: https://www.econbiz.de/10013020714