The authors argue that the impact of the world financial crisis on Latin America was buffered by lower external private and public debt exposure and better macroeconomic fundamentals, which reduced the negative effects of turbulences on financial systems. Nevertheless, negative effects soon...

The paper studies the dynamic effects of fiscal policy shocks upon Argentine macroeconomic variables such as the gross domestic product, the inflation rate and the level of unemployment; a structural Vector Autoregression model is resorted to in order to estimate the impulse response functions;...