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The welfare cost of Argentine risk

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Author Info

  • Jorge C. Ávila

Abstract

In this paper we do a couple of things: discussing a way to measure the welfare cost of country risk, and measuring it for Argentina in the period 1875-2006. There are two conclusions: a) the welfare cost of Argentine risk has been huge: for example, in the period 1976-2006 it was around 20% of GDP, several times larger than the welfare cost of any conventional distortion; b) this cost would be wholly paid by labor. These fascinating results deserve further investigation.

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File URL: http://www.ucema.edu.ar/publicaciones/download/documentos/471.pdf
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Bibliographic Info

Paper provided by Universidad del CEMA in its series CEMA Working Papers: Serie Documentos de Trabajo. with number 471.

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Length: 17 pages
Date of creation: Dec 2011
Date of revision:
Handle: RePEc:cem:doctra:471

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Keywords: country risk; welfare cost; growth; Argentina;

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