{
  "title": "Argentina: Macroeconomic Crisis and Household Vulnerability",
  "publication": "IMF Working Papers, April 1, 2003",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2016/12/30/argentina-macroeconomic-crisis-and-household-vulnerability-16415",
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  "summary": "Using urban household surveys, we constructed a panel dataset to study the effects of the Argentine macroeconomic crisis of 1999-2002 with the aim of (1) identifying the most vulnerable households, (2) investigating whether employment in the public sector and government spending served to decrease v",
  "sections": [
    {
      "heading": "Study objectives",
      "content": "- Construct a panel dataset from urban household surveys to study the effects of the Argentine macroeconomic crisis of 1999-2002.\n- Aim to:\n  - (1) identify the most vulnerable households,\n  - (2) investigate whether employment in the public sector and government spending served to decrease vulnerability, and\n  - (3) understand the mechanisms used by households to smooth the effects of the crisis."
    },
    {
      "heading": "Key findings",
      "content": "- Vulnerable household characteristics:\n  - Households whose heads were male, less educated, and employed in the construction sector were more vulnerable to the crisis.\n  - These households experienced larger-than-average declines in income and higher dispersion.\n- Public sector employment and government spending:\n  - Households whose heads were employed in the public sector were more protected from the crisis.\n  - Higher public spending did not serve to decrease household vulnerability.\n- Employment dynamics:\n  - A significant source of vulnerability was linked to changes in employment status.\n  - The study examined determinants of the probability of being unemployed and of becoming unemployed.\n- Income smoothing:\n  - Households were unable to perfectly smooth income shocks."
    },
    {
      "heading": "Mechanisms analyzed",
      "content": "- Employment status changes as a driver of vulnerability.\n- Sources of household income and their role in absorbing shocks (explicitly studied: labor income, interest income, and other income sources as indicated by keywords)."
    },
    {
      "heading": "Policy implications and recommendations",
      "content": "- There is room for broadening social safety nets.\n- Particular recommendation: expansion in the form of public works programs.\n\n---\n\n Content in this bundle\n\n- Argentina:  Macroeconomic Crisis and Household Vulnerability - WP/03/89\n  - Argentina:  Macroeconomic Crisis and Household Vulnerability - WP/03/89 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Argentina:  Macroeconomic Crisis and Household Vulnerability - WP/03/89 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/30/argentina-macroeconomic-crisis-and-household-vulnerability-16415"
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    "Authors: Gabriela Inchauste, Ana Corbacho, Mercedes Garcia-Escribano",
    "Published: April 1, 2003",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451851304.001",
    "Construct a panel dataset from urban household surveys to study the effects of the Argentine macroeconomic crisis of 1999-2002.",
    "Aim to:",
    "Vulnerable household characteristics:",
    "Public sector employment and government spending:",
    "Employment dynamics:",
    "Income smoothing:",
    "Employment status changes as a driver of vulnerability.",
    "Sources of household income and their role in absorbing shocks (explicitly studied: labor income, interest income, and other income sources as indicated by keywords).",
    "There is room for broadening social safety nets.",
    "Particular recommendation: expansion in the form of public works programs.",
    "**Argentina:  Macroeconomic Crisis and Household Vulnerability - WP/03/89**"
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