Argentina's recovery and excess capital shallowing of the 1990s

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Argentina's recovery and excess capital shallowing of the 1990s

Author Info

Finn Kydland
Carlos E.J.M.Zarazaga

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Abstract

The paper examines Argentina’s economic expansion in the 1990s through the lens of a very parsimonious neoclassical growth model. The main finding is that investment remained considerably weaker than what the model would have predicted. The resulting excessive “capital shallowing” could be identified as a weakness of the rapid economic growth of the 1990s that may have played a role in Argentina’s ultimate inability to escape the crisis that started to unfold towards the end of that decade.

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Publisher Info
Article provided by University of Chile, Department of Economics in its journal Estudios de Economia.

Volume (Year): 29 (2002)
Issue (Month): 1 Year 2002 (June)
Pages: 35-45
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Handle: RePEc:udc:esteco:v:29:y:2002:i:1:p:35-45

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Web page: http://www.econ.uchile.cl/
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Paper
- Finn E. Kyland & Carlos E. J. M. Zarazaga, 2002. "Argentina's recovery and "excess" capital shallowing of the 1990s," Working Papers 0102, Federal Reserve Bank of Dallas. [Downloadable!]

Find related papers by JEL classification:
E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

Finn E. Kydland & Carlos E. J. M. Zarazaga, 2002. "Argentina's Lost Decade," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 5(1), pages 152-165, January. [Downloadable!] (restricted)
Other versions:
- Finn E. Kydland & Carlos E. J. M. Zarazaga, 2002. "Technical Appendix to Argentina's Lost Decade and the Subsequent Recovery Puzzle," Technical Appendices kydland02, Review of Economic Dynamics. [Downloadable!]
- Finn E. Kydland & Carlos E.J.M. Zarazaga, 2001. "Argentina's lost decade," Center for Latin America Working Papers 0401, Federal Reserve Bank of Dallas. [Downloadable!]
Timothy J. Kehoe & Edward C. Prescott (), . "Great depressions of the twentieth century," Monograph, Federal Reserve Bank of Minneapolis, number 2007gdott. [Downloadable!]
Other versions:
- Timothy J. Kehoe & Edward C. Prescott, 2002. "Great Depressions of the Twentieth Century," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 5(1), pages 1-18, January. [Downloadable!] (restricted)
Kydland, Finn E & Prescott, Edward C, 1982. "Time to Build and Aggregate Fluctuations," Econometrica, Econometric Society, vol. 50(6), pages 1345-70, November. [Downloadable!] (restricted)
Other versions:
- Finn E. Kydland & Edward C. Prescott, 1982. "Web interface for "Time to Build and Aggregate Fluctuations"," QM&RBC Codes 4a, Quantitative Macroeconomics & Real Business Cycles. [Downloadable!]
- Finn E. Kydland & Edward C. Prescott, 1982. "Executable program for "Time to Build and Aggregate Fluctuations"," QM&RBC Codes 4, Quantitative Macroeconomics & Real Business Cycles. [Downloadable!]
Fernando Alvarez & Urban J. Jermann, 1999. "Quantitative Asset Pricing Implications of Endogenous Solvency Constraints," NBER Working Papers 6953, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
Other versions:
- Fernando Alvarez & Urban J. Jermann, . "Quantitative Asset Pricing Implications of Endogenous Solvency Constraints," Rodney L. White Center for Financial Research Working Papers 10-99, Wharton School Rodney L. White Center for Financial Research. [Downloadable!]
- Fernando Alvarez & Urban J. Jermann, 1999. "Quantitative asset pricing implications of endogenous solvency constraints," Working Papers 99-5, Federal Reserve Bank of Philadelphia. [Downloadable!]
- Alvarez, Fernando & Jermann, Urban J, 2001. "Quantitative Asset Pricing Implications of Endogenous Solvency Constraints," Review of Financial Studies, Oxford University Press for Society for Financial Studies, vol. 14(4), pages 1117-51.
Hansen, Gary D., 1997. "Technical progress and aggregate fluctuations," Journal of Economic Dynamics and Control, Elsevier, vol. 21(6), pages 1005-1023, June. [Downloadable!] (restricted)
Other versions:
- Gary D. Hansen, 1989. "Technical Progress and Aggregate Fluctuations," UCLA Economics Working Papers 546, UCLA Department of Economics. [Downloadable!]
Patrick J. Kehoe & Fabrizio Perri, 2000. "International Business Cycles with Endogenous Incomplete Markets," NBER Working Papers 7870, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
Other versions:
- Patrick J. Kehoe & Fabrizio Perri, 2000. "International business cycles with endogenous incomplete markets," Staff Report 265, Federal Reserve Bank of Minneapolis. [Downloadable!]
- Patrick J. Kehoe & Fabrizio Perri, 2002. "International Business Cycles with Endogenous Incomplete Markets," Econometrica, Econometric Society, vol. 70(3), pages 907-928, May. [Downloadable!] (restricted)

Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

Ariel Coremberg, 2008. "The Measurement of TFP in Argentina, 1990-2004: A Case of the Tyranny of Numbers, Economic Cycles and Methodology," International Productivity Monitor, Centre for the Study of Living Standards, vol. 17, pages 52-74, Fall. [Downloadable!]

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This page was last updated on 2009-11-17.

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