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Argentina: Macroeconomic Crisis and Household Vulnerability


  • Ana Corbacho
  • Mercedes Garcia‐Escribano
  • Gabriela Inchauste


Using panel data from the Argentine Permanent Household Survey, this paper analyzes which households were more vulnerable to the Argentine macroeconomic crisis during 1999–2002. Results suggest that the impact of the crisis was not uniform across households, which differed in their ability to cope with shocks. In particular, households with more children, and whose head was male, less educated, and employed in the private sector were the most vulnerable, suffering larger than average declines in income. Shocks to labor income were significant, with both unemployment rates and unemployment spells increasing throughout the period, particularly during the peak of the crisis towards the end of 2001. Individuals with low levels of human capital (proxied by education and experience), males, and self‐employed were more likely to lose their jobs. Public sector employees, in contrast, were more protected from the impact of the crisis on employment.

Suggested Citation

  • Ana Corbacho & Mercedes Garcia‐Escribano & Gabriela Inchauste, 2007. "Argentina: Macroeconomic Crisis and Household Vulnerability," Review of Development Economics, Wiley Blackwell, vol. 11(1), pages 92-106, February.
  • Handle: RePEc:bla:rdevec:v:11:y:2007:i:1:p:92-106
    DOI: 10.1111/j.1467-9361.2007.00384.x

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    References listed on IDEAS

    1. Guillermo Cruces & Quentin Wodon, 2003. "Argentina’s crises and the Poor, 1995-2002," Económica, Departamento de Economía, Facultad de Ciencias Económicas, Universidad Nacional de La Plata, vol. 0(1-2), pages 55-96, January-D.
    2. Alejandro Izquierdo & Ernesto Talvi & Guillermo A. Calvo, 2002. "Sudden Stops, the Real Exchange Rate and Fiscal Sustainability: Argentina's Lessons," Research Department Publications 4299, Inter-American Development Bank, Research Department.
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    Cited by:

    1. Hovi Matti, 2020. "The Lasting Well-being Effects of Early Adulthood Macroeconomic Crises," Working Papers 1823, Tampere University, School of Management and Business, Economics.
    2. Christian D. Mina & Katsushi S. Imai, 2017. "Estimation of Vulnerability to Poverty Using a Multilevel Longitudinal Model: Evidence from the Philippines," Journal of Development Studies, Taylor & Francis Journals, vol. 53(12), pages 2118-2144, December.
    3. Burak GURBUZ & Marc RAFFINOT, 2011. "Croissance Et Repartition Des Revenus En Turquie (1994-2005) : Quel Impact Sur La Pauvrete ?," Region et Developpement, Region et Developpement, LEAD, Universite du Sud - Toulon Var, vol. 34, pages 19-38.
    4. Cho, Yoonyoung & Newhouse, David, 2013. "How Did the Great Recession Affect Different Types of Workers? Evidence from 17 Middle-Income Countries," World Development, Elsevier, vol. 41(C), pages 31-50.
    5. repec:dau:papers:123456789/10607 is not listed on IDEAS
    6. Brown, Martin, 2013. "The transmission of banking crises to households : lessons from the 2008-2011 crises in the ECA region," Policy Research Working Paper Series 6528, The World Bank.
    7. Abdullah Al Mamun & Noorshella Binti Che Nawi & Mohd Asrul Hery Bin Ibrahim & Rajennd Muniady, 2018. "Effect of Economic Vulnerability on Competitive Advantages, Enterprise Performance and Sustainability," Social Sciences, MDPI, Open Access Journal, vol. 7(4), pages 1-11, April.
    8. Jose Cuesta & Mario Negre & Ana Revenga & Maika Schmidt, 2018. "Tackling Income Inequality: What Works and Why?," Journal of Income Distribution, Ad libros publications inc., vol. 26(1), pages 1-48, March.

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