Argentina's Feeble Recovery: Insights from a Real Business Cycle Approach

Autor:	Carlos E. Zarazaga
Rok vydání:	2006
Předmět:	Macroeconomics Economics Business cycle Economic stagnation Left behind
Zdroj:	The Journal of Policy Reform. 9:219-234
ISSN:	1477-2736 1384-1289
DOI:	10.1080/13841280600911600
Popis:	Argentina’s GDP increased 30% between 2002 and 2005, prompting optimistic assessments that the country had finally left behind its secular stagnation. However, this strong performance followed a sharp decline in economic activity and therefore could be the manifestation of a bounce‐back effect with no lasting impact on Argentina’s mediocre long‐term growth rates. The paper examines this conjecture with the quantitative discipline imposed by a Real Business Cycle methodology and concludes that the 2002–05 expansion was not only a rebound, but also considerably weaker than the model predicts, a finding not consistent with upbeat views about the country’s long‐term prospects.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::916bb3aa49033995bc52eb849fb3dfd4 https://doi.org/10.1080/13841280600911600 Zobrazit plný text záznamu Plný text ve formátu PDF