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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. Copyright � 2007 International Monetary Fund; Journal compilation � 2007 Blackwell Publishing Ltd.

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Article provided by Wiley Blackwell in its journal Review of Development Economics.

Volume (Year): 11 (2007)
Issue (Month): 1 (02)
Pages: 92-106

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Handle: RePEc:bla:rdevec:v:11:y:2007:i:1:p:92-106
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  1. Jalan, Jyotsna & Ravallion, Martin, 1999. "Income gains to the poor from workfare - estimates for Argentina's TRABAJAR Program," Policy Research Working Paper Series 2149, The World Bank.
  2. World Bank, 2001. "Household Risk, Self-Insurance and Coping Strategies in Urban Argentina," World Bank Other Operational Studies 15467, The World Bank.
  3. Frankenberg, E. & Thomas, D. & Beegle, K., 1999. "The Real Costs of Indonesia's Economic Crisis: Preliminary Findings from the Indonesia Family Life Surveys," Papers 99-04, RAND - Labor and Population Program.
  4. Oscar Altimir, 2001. "Long-term trends of poverty in Latin American countries," Estudios de Economia, University of Chile, Department of Economics, vol. 28(1 Year 20), pages 115-155, June.
  5. Nada Choueiri & Graciela Laura Kaminsky, 1999. "Has the Nature of Crises Changed? A L1812Quarter Century of Currency Crises in Argentina," IMF Working Papers 99/152, International Monetary Fund.
  6. Ana Corbacho & Gerd Schwartz, 2002. "Mexico; Experiences with Pro-Poor Expenditure Policies," IMF Working Papers 02/12, International Monetary Fund.
  7. Martin Ravallion, 1999. "Is More Targeting Consistent with Less Spending?," International Tax and Public Finance, Springer, vol. 6(3), pages 411-419, August.
  8. Ricardo J. Caballero, 2000. "Structural Volatility in Argentina: A Policy Report," Research Department Publications 4213, Inter-American Development Bank, Research Department.
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  11. Stephanie Eble & Petya Koeva, 2002. "What Determines Individual Preferences over Reform? Microeconomic Evidence from Russia," IMF Staff Papers, Palgrave Macmillan, vol. 49(Special i), pages 87-110.
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