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Accounting for output drops in Latin America /
This paper evaluates what type of models can account for the recent episodes of output drops in Latin America. I develop an open economy version of the business cycle accounting methodology (Chari, Kehoe, and McGrattan, 2007) in which output fluctuations are decomposed into four sources: total facto...
| Clasificación: | Libro Electrónico |
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| Autor principal: | |
| Autores Corporativos: | , |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington, D.C.] :
International Monetary Fund,
©2009.
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| Colección: | IMF working paper ;
WP/09/67. |
| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | This paper evaluates what type of models can account for the recent episodes of output drops in Latin America. I develop an open economy version of the business cycle accounting methodology (Chari, Kehoe, and McGrattan, 2007) in which output fluctuations are decomposed into four sources: total factor productivity (TFP), a labor wedge, a capital wedge, and a bond wedge. The paper shows that the most promising models are the ones that induce fluctuations of TFP and the labor wedge. On the other hand, models of fnancial frictions that translate into a bond or capital wedge are not successful in e. |
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| Notas: | At head of title: IMF Institute. "March 2009." |
| Descripción Física: | 1 online resource (49 pages) : color illustrations |
| Bibliografía: | Includes bibliographical references (pages 33-36). |
| ISBN: | 9781451991307 1451991304 146233055X 9781462330553 1451872143 9781451872149 9786612842887 6612842881 1282842889 9781282842885 |