Macroeconomic Responses to Terms-of-Trade Shocks : A Framework for Policy Analysis for the Argentine Economy

Author/Editor:

Pelin Berkmen

Publication Date:

May 1, 2009

Electronic Access:

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

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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