The aim of this paper is to identify the relationship between macroeconomic shocks and financial vulnerability in the argentine case for the period 1977-2004, by using VEC models. The results show that falls in the deposit-currency ratio (indicator of crisis or financial vulnerability) would be...

The aim of this paper is to identify the relationship between macroeconomic shocks and financial vulnerability in the Argentine case for the period 1977-2004, by using VEC models. The results show that falls in the deposit-currency ratio (indicator of crisis or financial vulnerability) would be...

Las exportaciones representan uno de los agregados más importantes de la economía argentina, tanto por su vinculación con la demanda doméstica como por su influencia en el comportamiento de la balanza comercial y de la cuenta corriente. Disponer de adecuados pronósticos de esta variable...

In this paper, we estimate a simple version of an intertemporal current account model. This simple model utilizes an econometric approach developed by Campbell and Campbell and Shiller for a closed economy (the permanent income hypothesis of consumption under rational expectations) to test a...

One of the issues of macroeconomic analysis in recent years has been trying to empirically identify the factors causing fluctuations in economic aggregates. This work investigates the sources of macroeconomic fluctuations using a structural VEC approach and quarterly data for Argentina’s...

The turmoils occurred in East Asia in the 1990s have reminded the world of how rapidly and with what disruptive forte financia1 crises can erupt, and of how difficult it is to foresee the timing and full ramifications of these dramatic events. In this way, the paper examines the financia1 system...

During the nineties, some developing countries undertook reforms in the labor market and opened their economies to the world, measures that are not translated, as expected, in substantial improvements in employment levels and incomes in these economies. Argentina, however, adopted in recent...

Este trabajo analiza la dinámica de los principales choques macroeconómicos que podrían afectar el balance comer¬cial y la cuenta corriente en el caso de la economía Argentina. En particular, se intenta evaluar el impacto de los precios internacionales sobre ambas variables externas. El...

This paper considers two important sources of relative price changes in an open economy: the terms of trade and the real exchange rate movements. The paper examines the effects on real output of the terms of trade and the real exchange rate movements in Argentina, between 1977 and 1998, and...