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Aggregate demand and supply shocks and the economic fluctuations in Puerto Rico from 1950 to 2002

Author

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  • Wilfredo Toledo

    (Universidad de Puerto Rico. Recinto de Río de Piedras, Puerto Rico.)

Abstract

This paper analyses the relative importance of supply and demand shocks in explaining the dynamics of aggregate output and prices in a small dolarized economy: Puerto Rico. Results indicate that supply shocks are important sources of output variability in the medium and long run while demand shocks seem to be more relevant for output in the short run.

Suggested Citation

  • Wilfredo Toledo, 2003. "Aggregate demand and supply shocks and the economic fluctuations in Puerto Rico from 1950 to 2002," Economía, Instituto de Investigaciones Económicas y Sociales (IIES). Facultad de Ciencias Económicas y Sociales. Universidad de Los Andes. Mérida, Venezuela, vol. 28(19-20), pages 35-57, january-d.
    • Handle: RePEc:ula:econom:v:28-29:y:2003-2004:i:19-20:p:35-57
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