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Macroeconomics for development in Latin America and the Caribbean: Some new considerations on countercyclicality

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  • Titelman Kardonsky, Daniel
  • Pérez Caldentey, Esteban

Abstract

The Macroeconomics for development blue print for Latin America and the Caribbean is articulated around two issues: an active strategy of productive development and a counter cyclical policy stance. Macroeconomic counter cyclicality refers to the management of the level of aggregate demand to dampen the fluctuations and volatility of real and nominal variables around their long-term trends. This paper argues that cycle and trend are interdependent and that, as a result, counter cyclical policies (i.e., aggregate demand policies) are not neutral to the long-run behaviour of economies.

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  • Titelman Kardonsky, Daniel & Pérez Caldentey, Esteban, 2013. "Macroeconomics for development in Latin America and the Caribbean: Some new considerations on countercyclicality," Financiamiento para el Desarrollo 35910, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    • Handle: RePEc:ecr:col035:35910
    Note: Includes bibliography.
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    File URL: http://repositorio.cepal.org/handle/11362/35910
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    Cited by:

    1. Guilherme Klein Martins & Fernando Rugitsky, 2021. "The Long Expansion and the Profit Squeeze: Output and Profit Cycles in Brazil (1996–2016)," Review of Radical Political Economics, Union for Radical Political Economics, vol. 53(3), pages 373-397, September.

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