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Argentina's lost decade

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Listed:
  • Finn E. Kydland
  • Carlos E. Zarazaga

Abstract

Argentina suffered a depression in the 1980s that was as severe as the Great Depression experienced in the United States and Germany in the interwar period. Our paper examines this depression from the perspective of growth theory, taking total factor productivity as exogenous. The predictions of the growth model conform rather well with the observations during the ?lost decade? years.

Suggested Citation

  • Finn E. Kydland & Carlos E. Zarazaga, 2001. "Argentina's lost decade," Working Papers 0107, Federal Reserve Bank of Dallas.
    • Handle: RePEc:fip:feddwp:0107
    Note: Published as: Kydland, Finn E. and Carlos E.J.M. Zarazaga (2002), "Argentina's Lost Decade," Review of Economic Dynamics 5 (1): 152-165.
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    References listed on IDEAS

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    1. 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.
    2. Hofman, André A., 2000. "The economic development of Latin America in the twentieth century," Copublicaciones, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 1650 edited by Eclac, November.
    3. Judd, Kenneth L. & Guu, Sy-Ming, 1997. "Asymptotic methods for aggregate growth models," Journal of Economic Dynamics and Control, Elsevier, vol. 21(6), pages 1025-1042, June.
    4. Osvaldo Meloni, 2005. "Crecimiento potencial y productividad en la Argentina: 1980-1997," Development and Comp Systems 0503001, University Library of Munich, Germany.
    5. Mr. Michael Sarel, 1997. "Growth and Productivity in Asean Countries," IMF Working Papers 1997/097, International Monetary Fund.
    6. Kydland, Finn E & Prescott, Edward C, 1982. "Time to Build and Aggregate Fluctuations," Econometrica, Econometric Society, vol. 50(6), pages 1345-1370, November.
    7. William A. Brock & Leonard J. Mirman, 2001. "Optimal Economic Growth And Uncertainty: The Discounted Case," Chapters, in: W. D. Dechert (ed.), Growth Theory, Nonlinear Dynamics and Economic Modelling, chapter 1, pages 3-37, Edward Elgar Publishing.
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    9. Harold L. Cole & Lee E. Ohanian, 1999. "The Great Depression in the United States from a neoclassical perspective," Quarterly Review, Federal Reserve Bank of Minneapolis, vol. 23(Win), pages 2-24.
    10. Finn E. Kydland & Carlos E. Zarazaga, 1997. "Is the business cycle of Argentina "different?"," Economic and Financial Policy Review, Federal Reserve Bank of Dallas, issue Q IV, pages 21-36.
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    Keywords

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    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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