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Argentina's capital gap puzzle

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  • Finn E. Kydland
  • Carlos E.J.M. Zarazaga

Abstract

Argentina’s GDP per working age person in 2003 was about the same as it was twenty years earlier and around fifteen percent below trend. By international standards that has been a dismal performance whose ultimate sources are important to uncover to eventually reverse that country’s seemingly secular decline. The purpose of this paper is precisely to take a first step towards that understanding. To that effect, we examine Argentina’s recent growth experience, which includes two deep recessions and a recovery, with the lens of a neoclassical growth model that takes total factor productivity as exogenous.

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File URL: http://dallasfed.org/assets/documents/research/claepapers/2004/lawp0405.pdf
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Bibliographic Info

Paper provided by Federal Reserve Bank of Dallas in its series Center for Latin America Working Papers with number 0504.

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Date of creation: 2004
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Handle: RePEc:fip:feddcl:0504

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Keywords: Argentina;

References

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  1. Finn E. Kydland & Carlos E. J. M. Zarazaga, 2002. "Online Appendix to Argentina's Lost Decade and the Subsequent Recovery Puzzle," Technical Appendices kydland02, Review of Economic Dynamics.
  2. Patrick J. Kehoe & Fabrizio Perri, 2002. "International Business Cycles with Endogenous Incomplete Markets," Econometrica, Econometric Society, vol. 70(3), pages 907-928, May.
  3. Reinhart, Carmen & Rogoff, Kenneth & Savastano, Miguel, 2003. "Debt intolerance," MPRA Paper 13932, University Library of Munich, Germany.
  4. Hansen, Gary D., 1997. "Technical progress and aggregate fluctuations," Journal of Economic Dynamics and Control, Elsevier, vol. 21(6), pages 1005-1023, June.
  5. 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.
  6. Timothy Kehoe & Edward Prescott, 2002. "Data Appendix to Great Depressions of the Twentieth Century," Technical Appendices kehoe02, Review of Economic Dynamics.
  7. Gary D. Hansen & Edward C. Prescott, 1992. "Recursive methods for computing equilibria of business cycle models," Discussion Paper / Institute for Empirical Macroeconomics 36, Federal Reserve Bank of Minneapolis.
  8. Michael Sarel, 1997. "Growth and Productivity in ASEAN Countries," IMF Working Papers 97/97, International Monetary Fund.
  9. Stephen L. Parente & Edward C. Prescott, 1997. "Monopoly rights: a barrier to riches," Staff Report 236, Federal Reserve Bank of Minneapolis.
  10. Kydland, Finn E & Prescott, Edward C, 1982. "Time to Build and Aggregate Fluctuations," Econometrica, Econometric Society, vol. 50(6), pages 1345-70, November.
  11. Kehoe, Timothy J & Levine, David K, 2001. "Liquidity Constrained Markets versus Debt Constrained Markets," Econometrica, Econometric Society, vol. 69(3), pages 575-98, May.
  12. José De Gregorio & Jong-Wha Lee, 1999. "Economic Growth in Latin America: Sources and Prospects," Documentos de Trabajo 66, Centro de Economía Aplicada, Universidad de Chile.
  13. Timothy J. Kehoe & Edward C. Prescott (), 2007. "Great depressions of the twentieth century," Monograph, Federal Reserve Bank of Minneapolis, number 2007gdott.
  14. repec:rus:hseeco:123922 is not listed on IDEAS
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Cited by:
  1. Carlos E. J. M. Zarazaga, 2006. "Argentina’s unimpressive recovery: insights from a real business cycle approach," Working Papers 0606, Federal Reserve Bank of Dallas.

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