Macroeconomic Responses to Terms-of-Trade Shocks : A Framework for Policy Analysis for the Argentine Economy
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Summary:
This paper presents a version of the global integrated monetary fiscal (GIMF) model adapted and calibrated to the Argentine economy. The model replicates the effect of the strong improvement in Argentina's terms of trade stemming from higher world commodity prices as well as other key economic trends in Argentina during the period 2003-2007. The model can be used to assess the potential impact of different combinations of monetary and fiscal policies on output, inflation, and the external trade.
Series:
Working Paper No. 09/117
Subject:
Argentina Commodity prices Demand Economic models External shocks Fiscal policy Inflation International trade Monetary policy Price increases Revenues Terms of trade Time series
English
Publication Date:
May 1, 2009
ISBN/ISSN:
9781451872644/1018-5941
Stock No:
WPIEA2009117
Format:
Paper
Pages:
34
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