Catálogo de publicaciones - revistas
Economic Notes
Resumen/Descripción – provisto por la editorial en inglés
Economic Notes is an invaluable journal presenting key issues in the fields of banking, finance and monetary economics. Through its 35 years the journal has earned a reputation for open debate. It publishes quality papers from academics and researchers as well as executives working in financial institutions, firms and the public sector. Quality articles without technical jargon Articles in Economic Notes are written by first-class economists and experts in the field. Papers are plainly written, avoiding unnecessary technicalities. Authors are encouraged to make their aims and the relevance of results explicit. Essential InformationEconomic Notes discusses key international issues. It is invaluable for keeping track of important topics and will keep anyone interested in banking, finance and monetary economics abreast of current developments.Palabras clave – provistas por la editorial
economic; notes; economics; finance; banking; monetary; markets; structure; institutions; regulation
Disponibilidad
| Institución detectada | Período | Navegá | Descargá | Solicitá |
|---|---|---|---|---|
| No detectada | desde feb. 1999 / hasta dic. 2023 | Wiley Online Library |
Información
Tipo de recurso:
revistas
ISSN impreso
0391-5026
ISSN electrónico
1468-0300
País de edición
Estados Unidos
Fecha de publicación
1972-
Cobertura temática
Tabla de contenidos
doi: 10.1111/ecno.12098
Exchange Rate Depreciation, Wage Resistance and Inflation in Argentina (1882–2009)
Matias Vernengo; Nathan Perry
<jats:sec><jats:label /><jats:p>This paper describes some of the main alternatives to the dominant neoclassical theories of inflation, according to which inflation is always a monetary phenomenon. The model develops a cost‐push approach, in which rising costs are mainly related to external constraints. Not only is inflation seen as resulting from balance of payments crises, but fiscal crises also are the result of the initial balance of payments crises within this framework. Fiscal deficits, and all other excess demand pressures, are absent, so that high levels of inflation are compatible with an economy that is below full employment, and stabilization is independent of fiscal adjustments. The model is then tested using a Vector Autoregression model and finds strong evidence for alternative theories of inflation over the monetarist theory. The empirical section tests both the long period (1882–2009) and the modern period (1990–2007) analyzing the impact of wages, the nominal exchange rate, the output gap and the monetary base on inflation. The results show that the exchange rate (external constraints) has been the primary cause of inflation. Wages are a causal factor in both models, and the monetary base and output gap show low causality in the long period, and ambiguous results for the modern period.</jats:p></jats:sec>
Pp. 125-144