This paper analyzes the link between the current account and the terms of trade, in the case of Argentina's economy. SVAR models with long-term restrictions and annual data covering the period 1986-2014 are used. The response functions suggest a positive reaction from the current account to...

This paper analyzes the impact of external price shocks on fiscal policy in Argentina during the last two decades. The paper evaluates, through VAR models with long-term restrictions, the effects of the terms of trade, and the output gap, in revenues, expenditures and the primary fiscal deficit,...

This paper investigates the impact of external price shocks on private consumption and investment and the sources of fluctuations in these variables, in the case of Argentina, employing structural VEC models (Structural Vector Error Correction) and quarterly data, covering the period...

This paper investigates the relationship between demographics and the current account. We analyze the impact of recent demographic changes and provide a forecast of its future impact. Overall, we find a strong and robust, non-linear demographic effect. In particular, we find a positive...

The goal of this paper is to address the role of the real effective exchange rate (fundamentals, misalignment and volatility) for the current account using a panel data analysis for a set of 58 countries, over the period of 1994-2014. The results suggest that exchange rate misalignment is...

This paper investigates how much of the current account adjustment after the global financial crisis in Spain can be explained by cyclical factors. For this purpose, we extend the IMF's external balance assessment methodology to allow for country-specific slopes and intercepts. The good fit of...

This study inspects if there is greater convergence with Germany amongst the Eurozone founding members and if their relations with the hegemonic economy have been more symmetrical after "euroization". The dimensions explored are those inspired by the optimum currency areas (OCA) framework. To...

Dornbusch’s exchange rate overshooting hypothesis (1976) is a central building block in international macroeconomics. This paper analyzes the effects of monetary and other macroeconomic shocks on the real exchange rate in the case of a small economy like Argentina. The paper uses SVAR models...

This paper analyzes the impact of external price shocks on the real exchange rate and the existence of the Dutch disease, in the case of the Argentine economy. We consider the effects of shocks on the terms of tr ade, the supply of the agricultural sector (booming sector and main exporter) and...

This paper attempts a re-examination of the relationship between the output volatility and economic growth using an annual data set for select 67 countries for the period 1978 to 2017 spanning over 40 years. Towards this objective cross section and panel, regressions are estimated for different...