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Adjustment Is Much Slower Than You Think

Caballero, Ricardo J.; Engel, Eduardo M.R.A. - 2003

holds for the microeconomic response of some of the most important economic variables, such as investment, labor demand, and … actual response to shocks is less than half as fast as the estimated response. For investment, labor demand and prices, the …, even after aggregating investment across all establishments in U.S. manufacturing, the estimate of its speed of adjustment …

Persistent link: https://www.econbiz.de/10010369179

Fear of Sudden Stops: Lessons from Australia and Chile

Caballero, Ricardo J.; Cowan, Kevin; Kearns, Jonathan - 2005

Latin American economies are exposed to substantial external vulnerability. Domestic imbalances and terms of trade shocks are often exacerbated by sudden financial distress. This paper explores ways of overcoming external vulnerability, drawing lessons from a detailed comparison of the response...

Persistent link: https://www.econbiz.de/10010327063

Price stickiness in Ss models: new interpretations of old results

Caballero, Ricardo J.; Engel, Eduardo M. R. A. - 2007

What is the relation between infrequent price adjustment and the dynamic response of the aggregate price level to monetary shocks? The answer to this question ranges from a one-to-one-link (Calvo, 1983) to no connection whatsoever (Caplin and Spulber, 1987). The purpose of this paper is to...

Persistent link: https://www.econbiz.de/10010264858

Macroeconomic volatility in Latin America: A view and three case studies

Caballero, Ricardo J. - 2000

Persistent link: https://www.econbiz.de/10010327179