smoothing in the investment response to aggregate shocks. The remaining 40% is explained by general equilibrium forces. The … particular, booms feed into themselves. The longer an expansion, the larger the response of investment to an additional positive … shock. Conversely, a slowdown after a boom can lead to a long lasting investment slump, which is unresponsive to policy …

efforts, several structural sources of volatility remain, and new ones have emerged as a result of the new and otherwise … better economic environment. In this paper I review these sources through the recent experiences of Argentina, Chile and …

efforts, several structural sources of volatility remain, and new ones have emerged as a result of the new and otherwise …

efforts, several structural sources of volatility remain, and new ones have emerged as a result of the new and otherwise … better economic environment. In this paper I review these sources through the recent experiences of Argentina, Chile and …

significant efforts, several structural sources of volatility remain, and new ones have emerged as a result of the new and … otherwise better economic environment. In this paper I review these sources through the recent experiences of Argentina, Chile …